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Silver (CME) (H4) intraday: the downside prevails as long as 25.15 is resistance
2023-12-05
562
Our pivot point stands at 25.15.
Our preference: the downside prevails as long as 25.15 is resistance.
Alternative scenario: the upside breakout of 25.15, would call for 25.40 and 25.54.
Comment: the RSI is trading below 30. This could mean that either prices are in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Silver (CME) (H4) is trading under both its 20 and 50 period moving average (respectively at 25.32 and 25.65).
Supports and resistances:
25.54 **
25.40 *
25.15 **
25.06
24.92 last
24.62
24.48 **
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