After its recent surge to reach the highest levels since September 2011, silver is showing short-to-medium-term negative signals on the 4-hour timeframe, before potentially resuming its upward trend on the daily chart.
As seen in the chart above, the price dropped quickly below the 38.37 level, forming a new low and shifting the 4-hour trend from bullish to bearish. The rebound to the 38.858 level appears to be a corrective move targeting the 38.1869 level.
The bearish scenario would be invalidated if the price rises again and forms a higher high on the 4-hour chart above the 39.119 level.
As seen in the chart above, the price dropped quickly below the 38.37 level, forming a new low and shifting the 4-hour trend from bullish to bearish. The rebound to the 38.858 level appears to be a corrective move targeting the 38.1869 level.
The bearish scenario would be invalidated if the price rises again and forms a higher high on the 4-hour chart above the 39.119 level.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.