M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Session Overview
Silver Price Forecast may continue to favor the bearish structure on h1 time frame. However the Silver Price Forecast operates below the recent high at 83.88186 on h1 time frame. Meanwhile the structure shaped the fresh resistance at 83.77187 on h1 time frame. In addition, the m15 time frame continues the bearish structure. As a result price continues below the latest high at 81.68285 on m15 time frame. However the Silver Price Forecast printed the new formed distribution zone at 81.44331 on m15 time frame.
Resistance Zones
M15 Resistance Zone
81.44331 – 81.68285
Newly Formed Resistance Zone
Fresh Distribution Area
H1 Resistance Zone
83.77187 – 83.88186
Latest Supply Area
Expected Sell Reaction Area
Support Zones
M15 Support Zone
77.51549 – 77.49412
Prior Demand Region
Anticipated Support Reaction Zone
H1 Support Zone
76.83734 – 76.74153
Projected Demand Region
Former Support Base
Session Strategy
Although the price is likely to hold the selling structure on h1 time frame. Therefore the price hovers below the distribution zone at 83.88186 on h1 time frame. However, a confirmed close above 83.88186 on h1 time frame. Meanwhile the buyers may initiate their dominance and develop the fresh support at 83.47596 – 83.12007 on mh1 time frame. On the other hand, a sustained close above 81.68285 on m15 time frame. As a result price could establish the bullish structure and identify the fresh support at 80.79998 – 80.63572 on m15 time frame.
Nyc Session Outlook
However the structure is likely to follow the bearish structure on h1 time frame, as the structure defends the prior high at 79.36618 on h1 time frame. Although the price stay aligned with prior resistance zone on h1 time frame. In addition, m15 time frame remains sellers side and operates below the last high at 79.36618 on m15 time frame. Meanwhile the price established the latest resistance zone at 79.21688 on m15 time frame.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
79.21688 – 79.37767
Fresh Resistance Zone
Previous Distribution Area
H1 Resistance Zone
83.77187 – 83.88186
Prior Supply Area
Expected Sell Reaction Area
Support Zones
M15 Support Zone
77.51549 – 77.49412
Prior Demand Region
Anticipated Support Reaction Zone
H1 Support Zone
76.83734 – 76.74153
Projected Demand Region
Former Support Base
Session Strategy
Although the structure may maintain the bearish bias on h1 time frame. However, the remains favorable for the sellers below at 79.36618 on h1 time frame. Meanwhile, a breakout above 79.36618 on h1 time frame. As a result the structure could favors the bullish bias and produce the fresh support at 77.94203– 77.57649 on h1 time frame. In addition, a decisively close above 79.36618 on m15 time frame. Meanwhile price could develop the bullish structure and identify the fresh support at 77.94203 – 77.57649 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