Silver Futures (SI1!) M30 | Heading into Pullback Resistance
Type:
Bearish Reversal
Key Levels:
Resistance: 32.585
Pivot: 32.000
Support: 30.960
Preferred Case:
Looking at the M30 chart, the price is rising toward a pullback resistance where it could stall before making a bearish reversal to fall towards the 1st Support at 30.960.
Alternative Scenario:
Price may break above the Pivot at 32.000 and rise towards the 1st Resistance at 32.585.
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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.