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.