Hi Traders!
SILVER is approaching the trendline support of its symmetrical triangle and there is a possibility of a breakout to the downside.
Price Action π
There was a momentum break and close below the 20 EMA along with market swings showing lower highs and lower lows.
We are looking for a break and close below the trendline support.
Fundamental Analysis π°
The market's demand for Silver is currently low due to current high demand for the US dollar.
Support π
22.232: TRENDLINE SUPPORT
Resistance π
22.868: PREVIOUS DAY'S HIGH
Risk β οΈ
No more than 2% of your capital.
Reward π°
At least 4% of your capital.
Please make sure to click on the like/boost button π as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
SILVER is approaching the trendline support of its symmetrical triangle and there is a possibility of a breakout to the downside.
Price Action π
There was a momentum break and close below the 20 EMA along with market swings showing lower highs and lower lows.
We are looking for a break and close below the trendline support.
Fundamental Analysis π°
The market's demand for Silver is currently low due to current high demand for the US dollar.
Support π
22.232: TRENDLINE SUPPORT
Resistance π
22.868: PREVIOUS DAY'S HIGH
Risk β οΈ
No more than 2% of your capital.
Reward π°
At least 4% of your capital.
Please make sure to click on the like/boost button π as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
Komentar:
Triangle break successful. Chart idea complete.