Technical Analysis of Intraday Price Movement of Silver Commodity Asset, Wednesday, October 18 2023.
October 18, 2023 12:23 pm
On the 4-hour chart, the Silver commodity asset appears to be in an upward rally. This is confirmed by the price movement which is above the Moving Average with an upward slope plus the MACD Histogram which is in the positive area, where previously being in the ranging area has now managed to come out and formed several Bullish Ross Hooks (RH) which were successfully breaks by Silver, so in the near future Silver does not experience a significant downward correction, especially a downward correction that breaks below the 22,030 level, this commodity asset will try to continue its strengthening to the level of the 23,486-23,711 area.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
On the 4-hour chart, the Silver commodity asset appears to be in an upward rally. This is confirmed by the price movement which is above the Moving Average with an upward slope plus the MACD Histogram which is in the positive area, where previously being in the ranging area has now managed to come out and formed several Bullish Ross Hooks (RH) which were successfully breaks by Silver, so in the near future Silver does not experience a significant downward correction, especially a downward correction that breaks below the 22,030 level, this commodity asset will try to continue its strengthening to the level of the 23,486-23,711 area.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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