Silver: Reversal Signals Give Buy Opportunity
Here is another market where buying looks more interesting than selling.
The price broke SMA200, but bounced from the support zone at 16.500 level. If the price moves above SMA200, we will get a false breakout and a possible buy signal. RSI is going to confirm the price reversal from the support zone.
We can search for exact entry points using the hourly charts. For the daily timeframe, we will have to wait for the close price. Stop orders for all long trades must be placed below the support and the local swing low. Profit targets can be placed at round numbers.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
The price broke SMA200, but bounced from the support zone at 16.500 level. If the price moves above SMA200, we will get a false breakout and a possible buy signal. RSI is going to confirm the price reversal from the support zone.
We can search for exact entry points using the hourly charts. For the daily timeframe, we will have to wait for the close price. Stop orders for all long trades must be placed below the support and the local swing low. Profit targets can be placed at round numbers.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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