Silver Multi-Timeframe analysis

Feb 18, 2021

Hi Traders

Silver Multi-Timeframe analysis

H1 CHART

A low probability, entry signal to go LONG was given at 27.118 after the market found support at 26.847 . Only the downward break of 26.847 would cancel the bullish scenario.

Support & Resistances
27.039 27.510
26.816 27.652
26.528 27.940

H4 CHART

A medium probability, entry signal to go LONG was given at 26.544 after the market found support at 25.863 . Only the downward break of 25.863 would cancel the bullish scenario.

Support & Resistances
25.757 30.075
24.683 32.545
20.496 36.732

DAILY CHART

The market is approaching the support at 25.888 . We are waiting to see reversal signals in order to reinstate LONG positions. Next important support is the 24.160 level.

Support & Resistances
25.888 27.912
24.160 30.075
21.884 32.545

WEEKLY CHART

Waiting for a retracement lower towards the 21.653 support level, in order to reinstate LONG positions. Next important support is the 18.932 level.

Support & Resistances
21.653 30.075
18.932 34.662
16.512 42.844

Every time frame mentioned looks bullish. However, short term on 30 min i see a lot of bearish pressure.