Silver Price Action: Consolidation or Continuation?

H4 Chart Analysis: Silver’s Market Sentiment

Silver prices exhibit a dynamic interplay of supply and demand forces, with technical analysis offering insights into market sentiment and potential price movements. The following analysis on the H4 chart provides a snapshot of the current trends and patterns shaping the silver market.

   Chart Notes: 

  • Chart time-zone is UTC (+03:00)
  • Candles’ time-frame is 4h.

The H4 chart for silver indicates a recent recovery from a significant downtrend, as prices have pushed above the Ichimoku cloud, suggesting a shift towards bullish sentiment. The Fibonacci retracement levels drawn from the high to the low points highlight a rebound, with price currently testing the 0.236 level as potential resistance. The MACD indicator shows a bullish crossover and divergence from the signal line, supporting the upward price momentum. However, the market has yet to confirm a sustainable reversal, as prices remain below key resistance levels.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.