Silver Futures (SI1!) H4 | Potential Bearish Reversal
Silver Futures (SI1!) H4 | Potential Bearish Reversal
Type:
Bearish Reversal
Key Levels:
Resistance: 32.01
Pivot: 31.20
Support: 30.15
Preferred Case:
Looking at the H4 chart, my overall bias for silver futures (SI1!) is bearish due to the price making a swing-high and trading under a descending trendline. The bearish momentum could cause the price to reverse off the Pivot and fall towards the 1st Support at 30.15.
Alternative Scenario:
Price may break above the Pivot at 31.20 and rise towards the 1st Resistance at 32.01.