Technical Analysis of Intraday Price Movement of Silver Commodity Asset, Monday June 26, 2023.
June 26, 2023 7:25 am
Even though on the daily chart the commodity asset Silver is still moving in a Bearish condition where it appears that the price movement is moving in the Ascending Broadening Wedge weekly channel and there is a Bearish 123 pattern followed by a Bearish Ross Hook, but the deviation between the MACD Histogram and the price movement of the Silver commodity asset indicates that in the next few days this commodity asset will experience a correction rally upwards to the level of 23,168 as the main target and the momentum and volatility values are quite supportive, so it is not impossible that silver will head to the level of 23,396 which is important as long as it does not break above the level of 23,970 Silver is still in a bearish condition and will back down again.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
Even though on the daily chart the commodity asset Silver is still moving in a Bearish condition where it appears that the price movement is moving in the Ascending Broadening Wedge weekly channel and there is a Bearish 123 pattern followed by a Bearish Ross Hook, but the deviation between the MACD Histogram and the price movement of the Silver commodity asset indicates that in the next few days this commodity asset will experience a correction rally upwards to the level of 23,168 as the main target and the momentum and volatility values are quite supportive, so it is not impossible that silver will head to the level of 23,396 which is important as long as it does not break above the level of 23,970 Silver is still in a bearish condition and will back down again.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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