empty
20.11.2024 06:04 AM
Technical Analysis of Daily Price Movement of Silver Commodity Asset, Wednesday November 20, 2024.

This image is no longer relevant

With the appearance of the Bearish 123 pattern followed by several Bearish Ross Hook (RH) plus confirmation by the appearance of the Bearish Pitchfork channel and silver is moving harmoniously in it on its daily chart, the Silver commodity asset has confirmed that it is in a Bearish condition, but with the appearance of a deviation between price movements and the Stochastic Oscillator indicator, it gives an indication that in the next few days there is a potential for a strengthening correction where 33,050 has the potential to be tested, but as long as the strengthening correction does not break through and close above the level of 34,387 and or the Upper line of the Bearish Pitchfork, Silver will potentially weaken again where the level of 30,304 will be tested again and if it is successfully penetrated and closes below it, Silver will continue its weakening back to the Middle Line of the Bearish Pitchfork and/or levels 27,866 and 26,541 as the next target if volatility and momentum support.

(Disclaimer)

Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

EUR/USD – April 11th. The Dollar's Decline Shows No Sign of Stopping

On Thursday, the EUR/USD pair spent the entire day in an upward move, gaining 400 points and approaching the 261.8% Fibonacci corrective level at 1.1318. A rebound from this level

Samir Klishi 12:36 2025-04-11 UTC+2

Forecast for GBP/USD on April 11, 2025

On the hourly chart, the GBP/USD pair continued its upward movement on Thursday and secured a position above the 127.2% corrective level at 1.3003 – by Friday morning. This suggests

Samir Klishi 12:32 2025-04-11 UTC+2

Forex forecast 11/04/2025: EUR/USD, GBP/USD, SP500, NASDAQ, and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 09:52 2025-04-11 UTC+2

EUR/USD Forecast for April 11, 2025

Over the past day and this morning, the euro has reached the target range of 1.1385–1.1420, corresponding to the highs of June 2019 and 2020. The signal line

Laurie Bailey 05:03 2025-04-11 UTC+2

GBP/USD Forecast for April 11, 2025

The British pound has reached the target level of 1.3001. The signal line of the Marlin oscillator is breaking through the zero line into bullish territory, opening the way toward

Laurie Bailey 05:03 2025-04-11 UTC+2

USD/JPY Forecast for April 11, 2025

Yesterday, the USD/JPY pair decisively broke through the wide support range of 145.08/91 and reached the target level of 143.45 during today's Pacific session. The Marlin oscillator has only recently

Laurie Bailey 05:03 2025-04-11 UTC+2

Trading Signals for GOLD (XAU/USD) for April 10-12, 2025: sell below $3,145 (21 SMA - 8/8 Murray)

The Eagle indicator is reaching oversold levels and is giving a negative signal, so we will look for opportunities to sell below 3,145 or below 3,131 with a target

Dimitrios Zappas 15:37 2025-04-10 UTC+2

EUR/USD. April 10. Trump Continues to Shake the Markets

On Wednesday, the EUR/USD pair made two rebounds from the resistance zone of 1.1081–1.1095, turned in favor of the U.S. dollar, and declined toward the support zone of 1.0944–1.0957

Samir Klishi 12:19 2025-04-10 UTC+2

Forecast for GBP/USD on April 10, 2025

On the hourly chart, the GBP/USD pair rebounded from the 1.2865 level on Wednesday, experienced a slight decline, and today returned to that same level. Another rebound from this level

Samir Klishi 12:12 2025-04-10 UTC+2

Forex forecast 10/04/2025: EUR/USD, SP500, NASDAQ, Dow Jones, USDX and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 11:35 2025-04-10 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.