M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Market Overview
Silver Price Forecast established the bearish bias during the mid nyc session yesterday on h1 time frame. As a result price decisively break the low at 72.05079. Meanwhile the Silver Price Forecast hasn’t developed the any fresh resistance on h1 time frame, as the previous fresh resistance at 72.89233 already tapped by the price on h1 time frame. Although there are some pending resistance level would remain active and valid on h1 time frame. In addition the m15 follows the broader time frame bearish momentum, as the Silver Price Forecast stay below the resistance at 72.97791 on m15 time frame. Meanwhile the Silver Price Forecast aligned with the same pending resistance levels on the m15 time frame.
Resistance Zones
M15 Resistance Zone
74.75946 – 74.82035
Pending Supply Zone
Short Term Resistance Zone
H1 Resistance Zone
76.51085 – 76.67555
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
Although the Silver Price Forecast trades under the bearish structure on m15 time frame. Meanwhile the price hasn’t introduced any fresh, pending or near by support zone. Therefore the awaiting for the fresh structure breakout on m15 time frame
H1 Support Zone
65.31546 – 64.67674
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
However the price is expected to remain under the bearish momentum on h1 time frame. Therefore, the price holds the prior resistance at 73.95186 on h1. Meanwhile, if price records a close above 73.95186 on h1. As a result price could shift the character to the bullish side and may build the fresh support at 72.24040 – 72.05079 on h1 time frame. In addition, a close above 72.97791 on m15, the price could signal the bullish shift and generate the fresh support at 72.14776 – 72.31213 on m15. Moreover, a break below 70.87379 on h1 time frame, could indicate the bearish trend extension and may carve out the fresh resistance 72.89053 – 72.97894 on h1 time frame.
Nyc Session Outlook
Although the price may continue to support the bearish bias on h1 time frame. Therefore, price stay below the recent resistance at 73.95186 on h1 time frame. Meanwhile the price remains aligned with previous resistance zone on h1 time frame. However price hasn’t secured any fresh resistance on h1 time frame. In addition, m15 time frame confirmed the bullish bias, as the finishes above resistance at 72.97791 on m15 time frame. As a result price printed the fresh support at 73.29846 on m15 time frame.
Key Support & Resistance Zone
Resistance Zones
M15 Resistance Zone
74.76328 – 74.81737
Pending Supply Zone
Short Term Resistance Zone
H1 Resistance Zone
76.50949 – 76.67555
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
73.29846 – 73.15500
Fresh Demand Zone
Short Term Support Base
H1 Support Zone
65.31546 – 64.67674
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
However the price may remain the sellers supported on h1 time frame. Therefore, the price respects the last resistance at 73.95186 on h1. However, if price secures a close above 73.95186 on h1. As a result price could validate the bullish character and could build the fresh support at 72.24040 – 72.05079 on h1 time frame. On the other hand, acceptance below 73.15500on m15, the price may signal the bearish shift and may shape the fresh resistance at 73.45402 – 73.64194 on m15.
Key Takeways
Trend: Bearish
Bias: Sell On Rise
Follow H1 Structure
Disclaimer
Although this analysis is for educational and informational purposes only. Therefore it does not constitute financial advice. However always manage your risk and trade responsibly.
Moreover, check out my Previous XAGUSD Analysis section.
In addition, for daily XAGUSD silver chart analysis refer my XAGUSD Daily Analysis section