M15 & H1 Intraday Key Levels| Bullish Bias
Market Structure: Bullish
Intraday Sentiment: Buy On Dips
Session Focus: London| Nyc
London Market Overview
Silver Price Forecast confirmed the bullish momentum on h1 time frame amid the mid asian session today. Meanwhile Silver Price Forecast closes above the near by resistance at 73.71046 on h1time frame, and developed the fresh support at 73.23344 on h1 time frame. On the other hand, the m15 time frame remains aligned with bullish momentum as the price trades above the last support at 72.04863 on m15 time frame. Meanwhile the price produced the fresh support at 72.99308 on m15 time frame. Moreover, a if price secured a close above at 73.88376 on m15 time frame. As a result price may keep the bullish momentum intact and may build the fresh support at 73.62472 – 73.59726 on m15
Support Zones
M15 Support Zone
72.99308 – 72.69863
Fresh Demand Zone
Short Term Support Base
H1 Support Zone
73.23197 – 72.69863
Fresh Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
74.75976 – 74.81531
Pending Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
76.50957 – 76.67555
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
However the price is likely to remain under the bullish bias on h1 time frame. Meanwhile the price holding above the support at 72.04863 on h1 time frame. Therefore, a acceptance below 72.04863 on h1 time frame. As a result price may validate the bearish bias on h1 time frame and may build the fresh resistance at 72.69863 – 73.23197 on h1 time frame. On the other hand, a sustained close below 73.23197 on m15 time frame, price could support bearish momentum and may carve out the fresh resistance at 72.69863 – 72.99308 on m15 time frame.
Nyc Session Outlook
Although the price may favor buyers on h1 time frame, as trades above the support zone at 72.04863 on h1 time frame. Meanwhile the price maintains movement with in the same support zone on h1 and m15 time frame. Therefore the support zone would remain unchanged on h1 and m15 time frame. In addition the m15 time frame stay bullish until price holds the support at 72.05079 on m15 time frame.
Key Support & Resistance Zone
Support Zones
M15 Support Zone
72.99308 – 72.69863
Pending Demand Zone
Short Term Support Base
H1 Support Zone
73.23197 – 72.69863
Pending Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
74.75976 – 74.81531
Pending Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
76.50957 – 76.67555
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
However the price is likely to remain in the buyer’s favor on h1 time frame. Therefore the price hovering above the support at 72.04863 on h1 time frame. Meanwhile, if price post a close below 72.04863 on h1 time frame. As a result price could establish the bearish bias on h1 time frame and may form the fresh resistance at 72.69863 – 73.23197 on h1 time frame. On the other hand, if price records a close below 73.23197 on m15 time frame, price may affirmed the bearish setup and could carve out the fresh resistance at 72.69863 – 72.99308 on m15 time frame.
Key Takeways
Trend: Bullish
Bias: Buy On Dips
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