M15 & H1 Intraday Key Levels| Bullish Bias
Market Structure: Bullish
Intraday Sentiment: Buy On Dips
Session Focus: London| Nyc
London Market Overview
Silver Price Forecast may carry on the bullish structure on h1 time frame. Meanwhile the Silver Price Forecast remains above the prior support at 70.87051 on h1 time frame. However the Silver Price Forecast hasn’t secured any fresh support at on h1 time frame. Meanwhile the pending support zone would remain valid at 72.23725 on h1 time frame. In addition, the m15 time frame initiated the bearish bias, as the break below 73.76416 on m15 time frame. As a result Silver Price Forecast formed the fresh resistance at 74.03452 on m15 time frame.
Support Zones
M15 Support Zone
72.14955 – 72.31223
Pending Demand Zone
Short Term Support Base
H1 Support Zone
72.23725 – 72.05079
Pending Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
74.03540 – 74.06027
Fresh Supply Zone
Short Term Resistance Region
H1 Resistance Zone
76.50595 – 76.67555
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
However the price may continue to reflect the buyers strength on h1 time frame. Meanwhile the price stay above the last support at 70.87091 on h1 time frame. Therefore, a define close below 70.87091 on h1 time frame. As a result price may validate the bearish bias and introduce the fresh resistance at 72.05079 – 72.23725 on h1 time frame. On the other hand, a move above 72.31223 on m15 time frame, price could signal the bullish structure shift and confirm the fresh support at 73.85737 – 73.76406 on m15 time frame.
Nyc Session Outlook
Although the price could carry on the upside momentum on h1 time frame. Therefore the price trades above the prior support at 70.87091 on h1 time frame. Meanwhile the price still respecting prior support zone at 72.23725 on h1 time frame. In addition, the m15 time frame trades under bearish pressure, while trading below the lastest resistance at 74.06027 on m15 time frame. However the pending resistance zone would remain valid and active on m15 time frame, as the price hasn’t identified the fresh resistance on m15 time frame.
Key Support & Resistance Zone
Support Zones
M15 Support Zone
72.14955 – 72.31223
Pending Demand Zone
Short Term Support Base
H1 Support Zone
72.23725 – 72.05079
Pending Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
74.03540 – 74.06027
Pending Supply Zone
Short Term Resistance Region
H1 Resistance Zone
76.50595 – 76.67555
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
However the price may remain tilted to the buyers side on h1 time frame. Therefore the price operates above the nearby support at 70.87091 on h1 time frame. Meanwhile, if price records a close below 70.87091 on h1 time frame. As a result price could reinforce the bearish structure and confirm the fresh resistance at 72.05079 – 72.23725 on h1 time frame. In addition, acceptance above 72.31223 on m15 time frame, price may signal the bullish structure shift and may secure the fresh support at 73.85737 – 73.76406 on m15 time frame.
Key Takeways
Trend: Bullish
Bias: Buy On Dips
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