Silver price draws positive pattern - Analysis - 20-06-2022
Silver price shows mixed trades by today’s open, to rise now and approach 21.85 level, and by taking a deeper look at the chart, we find that the price forms inverted head and shoulders’ pattern that its confirmation line located at 21.95, which means that breaching this level will motivate the price to recover and achieve gains that start by testing 22.67.
Stochastic provides positive signals that we expect to assist to push the price to complete the suggested pattern, which makes us suggest witnessing more bullish bias in the upcoming sessions, noting that breaking 21.45 will cancel the mentioned positive formation and press on the price to decline again.
The expected trading range for today is between 21.45 support and 22.20 resistance.
The expected trend for today: Bullish
Commodities News
Commodities
Palladium climbs as dollar reverses course
Palladium prices rose on Friday as the dollar lost ground against most major rivals while ...
Commodities
Oil prices on track for second weekly profit in row
Oil prices rose in European trade on Friday after a pause from gains yesterday on profit-taking off ...
Commodities
Silver prices on track for the third weekly loss in row as dollar strengthens
Silver prices rose in European trade for the first time in five days off two-month lows hit earlier ...
Commodities Technical Analysis
Commodities
No news for natural gas price – Analysis – 30-5-2023
No news for natural gas price, to continue forming weak sideways waves near 2.350 and keep its main ...
Commodities
Platinum price tends towards the negativity – Analysis – 30-5-2023
Despite the recent platinum price weak trades, its frequent consolidation near the MA55 confirms ...
Commodities
Copper price postpones the decline – Analysis – 30-5-2023
Copper price was affected by the stability of the historical support 3.5500, to force it to ...