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 shows the bears dominance on h1 time frame. Therefore structure accepted close below the last low at 73.88140 on h1 time frame. However the bears developed the fresh resistance field at 75.92352 on h1 time frame. In addition, m15 time frame trades with bearish strength, as the Silver Price Forecast continue to defend the recent high at 76.39364 on m15 time frame. Although the bears continues to show their dominance with the previous distribution zone on m15 time frame. Moreover, a close below 73.10009 on h1 time frame may form the fresh supply at 74.65202 – 74.94517 on h1 time frame.
Resistance Zones
M15 Resistance Zone
76.22983 – 76.39364
Prior Supply region
Intraday Distribution Field
H1 Resistance Zone
75.91271 – 76.25311
Fresh Distribution Structure
Anticipated Selling Zone
Support Zones
M15 Support Zone
71.59357 – 71.58769
Pending Demand Field
Intraday Support Area
H1 Support Zone
65.31546 – 64.67674
Historic Support Base
Higher Time Frame Demand Structure
Session Strategy
Although the structure may intact the bearish bias on h1 time frame. Therefore the bears defends the last high at 78.90263 on h1 time frame. However, acceptance above 78.90263 on h1 time frame. As a result bulls may initiate their positive structure and confirm the fresh accumulation boundary at 74.86733 – 73.88140 on h1 time frame. Meanwhile if price ended above 76.39364 on m15 time frame. As a result bulls could confirm the establishment of upside continuation with the fresh support 75.57398 – 75.47372 on m15 time frame.
Nyc Session Outlook
However the sellers could continue driving the bearish structure on h1 time frame, through this the sellers would remain effective below the high at 78.90263 on h1 time frame. Although the price trades within the same resistance boundary on h1 time frame. Meanwhile, the m15 time frame trades under bearish tone, as the prior high remains intact at 76.39364 on m15 time frame. Although the previous distribution area would remain valid on m15 time frame.
Resistance Zones
M15 Resistance Zone
76.22983 – 76.39364
Prior Supply region
Intraday Distribution Field
H1 Resistance Zone
75.91271 – 76.25311
Old Distribution Structure
Anticipated Selling Zone
Support Zones
M15 Support Zone
71.59357 – 71.58769
Pending Demand Field
Intraday Support Area
H1 Support Zone
65.31546 – 64.67674
Historic Support Base
Higher Time Frame Demand Structure
Session Strategy
Although the bearish bias could continue to be preserved on h1 time frame, as the sellers holds the last high at 78.90263 on h1 time frame. Meanwhile, a settled close above 78.90263 on h1 time frame. However the buyers could secure the bullish structure and identify the fresh buying boundary at 74.86733 – 73.88140 on h1 time frame. However, if price sustain above 76.39364 on m15 time frame. As a result buyers could confirm the bullish continuation with the fresh demand field at 75.57398 – 75.47372 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