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 is expected to remain under the bearish bias on h1 time frame, as the Silver Price Forecast established the bearish structure shift amid the nyc session yesterday on h1 time frame. Therefore the Silver Price Forecast identified the fresh resistance at 74.35951 on h1 time frame. Meanwhile the m15 time frame continues to extend its bullish bias. As a result price closes above the resistance at 73.09288 on m15 time frame. Meanwhile the Silver Price Forecast already tapped the fresh support at 72.66191 on m15 time frame. In addition, if price records a close above 73.24770 on m15 time frame. However the Silver Price Forecast could markout the fresh support at 72.68702 – 72.64936 on m15 time frame.
Resistance Zones
M15 Resistance Zone
73.85022 – 74.27700
Pending Supply Zone
Short Term Resistance Zone
H1 Resistance Zone
74.35951 – 74.57614
Fresh Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
71.39939 – 71.31022
Pending Demand Zone
Short Term Support Base
H1 Support Zone
65.31546 – 64.67674
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
Although the price is likely to remain under the bearish momentum on h1 time frame, as the price positioned below the resistance at 76.98379 on h1 time frame. Meanwhile a sustained close above 76.98379 on h1 time frame. As a result price may confirm the upside continuation and introduce the fresh support at 74.57614 – 74.35951 on h1 time frame. In addition, a define close below 72.41258 on m15 time frame, as the price may establish bearish continuation and form the fresh resistance at 72.50375 – 72.66191 on m15 time frame.
Nyc Session Outlook
However the price may carry on the bearish continuation on h1 time frame. Therefore the price stay below the prior resistance at 76.98379 on h1 time frame. Meanwhile h1 time frame remains respected towards the previously established resistance zone on h1 time frame. As a result price hasn’t confirmed any fresh resistance amid the london session on h1 time frame. In addition, m15 time frame secured the fresh support at 72.81689 on m15 time frame. Moreover, a close above 73.83673 on m15 time frame, would continue the bullish extension and may form the fresh support at 73.41218 – 73.26913 on m15 time frame
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
73.85022 – 74.27700
Pending Supply Zone
Short Term Resistance Zone
H1 Resistance Zone
74.35951 – 74.57614
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
72.81689 – 72.64615
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 stay under the bearish momentum on h1 time frame, as the price hovering below the resistance at 76.98379 on h1 time frame. Meanwhile a confirmed close above 76.98379 on h1 time frame. As a result price could establish the upside continuation and may identify the fresh support at 74.57614 – 74.35951 on h1 time frame. In addition, if price holds below 72.64615 on m15 time frame, as the price may initiate the bearish continuation and may build the fresh resistance at 73.23682 – 73.37526 on m15 time frame.
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