Silver Falling Like a Stone

1 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

Silver made a bounce and it was expected to drop. The drop happened at important resistance so we are close to the POC zone now.

25.60-26.05 is the Point of Confluence zone. We also see the ATR low and D L3 camarilla which is projecting a possible bottom. When the price gets in the zone we could see either a bounce or a breakout below. A bounce should target 28.11 and 28.33 while the breakout below 25.60 targets 25.20 and 23.98.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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