Silver Update – April Rollercoaster Ends in Bullish Setup?
What a month it has been for Silver also!
In early April, the metal broke down from a rising wedge pattern, triggering a waterfall drop of around 6,000 pips. The plunge took us right into the 28 zone, but the reversal that followed was nothing short of spectacular.
In just two trading days, Silver rocketed back above the key 30 level, and the rally didn’t stop there. By mid-month, it reclaimed the 32 support – a level previously broken during the drop.
📉 Last week, however, price action turned quiet compared to the volatility in Gold, with Silver entering a tight consolidation.
But here’s the key point:
➡️ Despite the sharp early-month drop, the structure is now bullish again and remains so as long as 32 holds.
💡 Trading Plan:
I'm looking to buy dips near 32 in anticipation of a breakout above 33.15 – the upper boundary of the recent consolidation.
If that level gives way, Silver could accelerate its gains and make a new attempt toward 35.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
In early April, the metal broke down from a rising wedge pattern, triggering a waterfall drop of around 6,000 pips. The plunge took us right into the 28 zone, but the reversal that followed was nothing short of spectacular.
In just two trading days, Silver rocketed back above the key 30 level, and the rally didn’t stop there. By mid-month, it reclaimed the 32 support – a level previously broken during the drop.
📉 Last week, however, price action turned quiet compared to the volatility in Gold, with Silver entering a tight consolidation.
But here’s the key point:
➡️ Despite the sharp early-month drop, the structure is now bullish again and remains so as long as 32 holds.
💡 Trading Plan:
I'm looking to buy dips near 32 in anticipation of a breakout above 33.15 – the upper boundary of the recent consolidation.
If that level gives way, Silver could accelerate its gains and make a new attempt toward 35.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
Dagangan aktif
Silver broke 33.15 resistance
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📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.