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 trade under yesterday’s bearish pressure on h1 time frame. Meanwhile the price stay below the resistance at 76.67555 on h1 time frame. However Silver Price Forecast formed the fresh resistance at 76.50438 on h1 time frame. In addition, the m15 time frame follows broader time frame bearish bias, while trading below the resistance at 74.81654 on m15 time frame. As a result Silver Price Forecast established the fresh resistance at 74.76169 on m15 time frame. In addition, a break below 73.17850 on m15 time frame, would keep bearish bias intact and introduce the fresh resistance at 73.62191 – 73.73175 on m15 time frame.
Resistance Zones
M15 Resistance Zone
74.76169 – 74.81654
Fresh Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
76.50438 – 76.67555
Fresh Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
74.89407 – 71.73838
Pending Demand Zone
Short Term Key Support Base
H1 Support Zone
65.31546 – 64.67674
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
Although the price could stay with in the bearish bias on h1 time frame, until the price remain below near by resistance at 76.67555 on h1 time frame. Meanwhile, if price records a close above 76.67555 on h1 time frame. As a result price may initiate the bullish momentum and develop the fresh support at 74.30307 – 73.96948 on h1 time frame. Moreover, a acceptance above 74.81654 on m15 time frame, could tilt the structure to the bullish side and create the fresh support at 74.35417 – 74.19726 on m15 time frame.
Nyc Session Outlook
However price may continue to hold the bearish structure on h1 time frame, as long as the price operates below the resistance at 76.67555 on h1 time frame. Meanwhile the price hasn’t established any fresh resistance zone on h1 time frame. Therefore for the pending would remain valid on h1 time frame. In addition, the m15 time frame secured a fresh resistance at 73.56135. Moreover, a breakdown below 72.89016 on h1 time frame, would set up the fresh resistance at 73.56135 – 73.70817 on h1 time frame.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
73.56135 – 73.70817
Fresh Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
76.50438 – 76.67555
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
As the price trades in bearish structure on m15 time frame. Meanwhile the price hasn’t confirmed any fresh support on m15 time frame. Therefore awaiting for the fresh confirmation.
H1 Support Zone
65.31546 – 64.67674
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
However the price may continue to trades with in the bearish bias on h1 time frame, until the price hovers below nearby resistance at 76.67555 on h1 time frame. Meanwhile, a confirmed close above 76.67555 on h1 time frame. As a result price may shift the momentum to the bullish side and introduce the fresh support at 74.30307 – 73.96948 on h1 time frame. Moreover, a acceptance above 73.70817 on m15 time frame, may shift the bias to the bullish side and create the fresh support at 72.99503 – 72.70138 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