Silver Futures (SL1!) H4 I Falling toward an Overlap Support
Type:
Bearish Reversal
Key Levels:
Resistance: 33.91
Pivot: 33.46
Support: 32.79
Preferred Case:
Looking at the H4 chart, the price could fall toward the Pivot and potentially stabilize around this level before rising toward the 1st Support at 32.79
Alternative Scenario:
Price may bounce off the Pivot at 33.46 and rise toward the 1st Resistance at 33.91
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.