M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Market Overview
However the Silver Price Forecast may continue to benefit the sellers on h1 time frame. As a result Silver Price Forecast confirmed the change of character on h1 time frame yesterday, while giving a move below 77.79521 on h1. Meanwhile Silver Price Forecast shaped the fresh resistance at 80.52045 on h1. On the other hand, m15 time frame continue towards the bullish extension and establishing the fresh support at 77.92169 on m15 time frame. Moreover, a decisive close above 78.68195 on m15 time frame would favors the extension of bullish momentum. As a result Silver Price Forecast may establish the fresh support at 78.41105 – 78.28871 on m15 time frame.
Resistance Zones
M15 Resistance Zone
78.84894 – 79.05133
Pending Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
80.52442 – 81.02138
Fresh Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
77.92257 – 77.87383
Fresh Demand Zone
Short Term Key Support Base
H1 Support Zone
As the price trades in bearish structure on h1 time frame. Meanwhile the price hasn’t established any fresh or pending support zone on h1 time frame. However awaiting for the new breakout confirmation.
Session Strategy
Although the price may maintain the bearish bias on h1 time frame. Meanwhile the price respects the recent resistance at 83.05656 on h1. Therefore a finish above 83.05656 on h1 time frame. As result price may validate the bullish structure and confirm the fresh support at 79.84290 – 81.02138 on h1 time frame. On the other hand, a define close below 77.87377 on m15 time frame. However the price may secure the bullish momentum and print the fresh resistance at 78.22336 – 78.30309 on m15 time frame.
Nyc Session Outlook
However the price expected to stay bearish on h1 time frame. As a result price remains capped below the last resistance at 83.05656 on h1 time frame. Meanwhile the previous resistance at 80.52442 would remain active on h1 time frame, as the price hasn’t confirmed any fresh breakdown on h1 time frame. In addition, the m15 time confirmed the structure shift to the bearish side while giving the decisive close below 77.86807 on m15. As a result price set up fresh resistance at 78.22591 on m15 time frame. Moreover, a move below 77.69680 on m15 time frame, could confirm the fresh resistance at 78.10969 – 78.19533 on m15 time frame.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
78.84894 – 79.05133
Pending Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
80.52442 – 81.02138
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
77.45824 – 77.36955
Pending Demand Zone
Short Term Key Support Base
H1 Support Zone
As the price trades in bearish structure on h1 time frame. Meanwhile the price hasn’t established any fresh or pending support zone on h1 time frame. However awaiting for the new breakout confirmation.
Session Strategy
Although the price may hold the bearish bias on h1 time frame. Meanwhile the price operates below the recent resistance at 83.05656 on h1. Therefore a define close above 83.05656 on h1 time frame. As result price would strengthen the bullish structure and confirm the fresh support at 79.84290 – 81.02138 on h1 time frame. Meanwhile, a finish below 77.87377 on m15 time frame. However the price could secure the bullish structure and may shape the fresh resistance at 78.22336 – 78.30309 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