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 continue to reflect the bullish strength on h1 time frame. Meanwhile the Silver Price Forecast remains above the prior support at 72.99289 amid the last week 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 73.13782 on h1 time frame. In addition, the m15 time frame secured the bearish bias, as the Silver Price Forecast break below 75.14975 on m15 time frame. As a result Silver Price Forecast formed the fresh resistance at 75.71241 on m15 time frame.
Support Zones
M15 Support Zone
74.22051 – 74.00738
Pending Demand Zone
Short Term Support Base
H1 Support Zone
73.13782 – 72.99289
Pending Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
75.71241 – 75.82324
Fresh supply Zone
Short Term Resistance Zone
H1 Resistance Zone
78.51948 – 78.69230
Pending Supply Zone
Higher Time frame Resistance Region
Session Strategy
Although the structure may remain favorable for the buyers on h1 time frame. Meanwhile the price stay above the last support at 72.99289 on h1 time frame. Therefore, a define close below 72.99289 on h1 time frame. As a result price may validate the bearish bias and introduce the fresh resistance at 74.35188 – 74.58140 on h1 time frame. On the other hand, a move above 75.82324 on m15 time frame, price could signal the bullish structure shift and confirm the fresh support at 75.35156 – 75.11094 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 72.99289 on h1 time frame. Meanwhile the price hasn’t secured any fresh support zone on h1 time frame. In addition, the m15 time frame trades under bearish pressure, while trading below the lastest resistance at 74.58058 on m15 time frame. However the price identified the fresh resistance at 74.52794 on m15 time frame.
Support Zones
M15 Support Zone
71.39280 – 71.31515
Pending Demand Zone
Short Term Support Base
H1 Support Zone
65.31546 – 64.67674
Pending Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
74.52794 – 74.58058
Fresh supply Zone
Short Term Resistance Zone
H1 Resistance Zone
78.51948 – 78.69230
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 72.99289 on h1 time frame. Meanwhile, if price records a close below 72.99289 on h1 time frame. As a result price could reinforce the bearish structure and confirm the fresh resistance at 74.35188 – 74.58140 on h1 time frame. In addition, acceptance above 74.58058 on m15 time frame, price may signal the bullish structure shift and may secure the fresh support at 74.28960 – 74.22692 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