Silver closed above 40 ema in daily time frame in trading session of day before yesterday, it automatically confirms that the silver has completed a complex correction recently, now there is a good chance that a major bottom is done. Silver can possibly make a move towards north direction in the forthcoming trading sessions, as per price we can say towards $24.89 which is the high of wave X and coincidently it is also top of current rising channel. on the way down, or in the worst scenario, the 20 day simple moving average and the lower end of the channel which around coincide around $22.62, will be the crucial support level to watch out for.
fib key levels for target and whole scenario macd in weekly macd in daily positive and uptick rsi in weekly uptick stochastic in weekly stochastic in daily
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Disclaimer i am not sebi registered analyst my studies are for educational purpose only please consult your financial advisor before trading or investing