Silver Futures (SL1!) D1 I Bullish Bounce Off the 50% Fibo
Type:
Bullish Reversal
Key Levels:
Resistance: 35.80
Pivot: 33.736
Support: 32.06
Preferred Case:
Looking at the D1 chart, the price could fall toward a pullback support and potentially rise toward the 1st Resistance at 35.80
Alternative Scenario:
Price may break below the Pivot at 33.736 aligns close to the 50% Fibonacci retracement and drop toward the 1st Support at 32.06
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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.