Technical Analysis of Daily Price Movement of Silver Commodity Asset, Monday September 25,2023.
September 25, 2023 6:22 am
Even though on the daily chart the Silver commodity asset appears to be moving in a Sideways / Ranging condition, it seems that Sellers are still in control of this market, which can be seen from the CCI indicator which has managed to break below three important levels and is still oscillating in the range of -100 – 0 levels, even so in several days In the future, there is potential for an upward correction to test the level of 24,142, where this is confirmed by the Bearish Pitchfork breaking upwards and now the price is moving within the Bullish Pitchfork channel, but if the level of 24,142 is strong enough, it will act as a significant Resistance level so that Silver fails to touch the Middle Line Pitchfork level (Principal). Hagopian) then this will be a sign that Silver will plunge back down again to test the level of 22,299 in the next few days.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
Even though on the daily chart the Silver commodity asset appears to be moving in a Sideways / Ranging condition, it seems that Sellers are still in control of this market, which can be seen from the CCI indicator which has managed to break below three important levels and is still oscillating in the range of -100 – 0 levels, even so in several days In the future, there is potential for an upward correction to test the level of 24,142, where this is confirmed by the Bearish Pitchfork breaking upwards and now the price is moving within the Bullish Pitchfork channel, but if the level of 24,142 is strong enough, it will act as a significant Resistance level so that Silver fails to touch the Middle Line Pitchfork level (Principal). Hagopian) then this will be a sign that Silver will plunge back down again to test the level of 22,299 in the next few days.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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