Welcome to Extreme Investor Network, your ultimate source for all things related to the Stock Market, trading, and Wall Street. Today, we are excited to dive into an analysis of the potential bullish reversal and lower price levels in the market.
Bullish Reversal Above 28.20:
As we head into Tuesday’s session, a bullish reversal could be triggered with a decisive rally above the high of 28.20. It’s important to note that support has been holding firm around the top downtrend line, which previously acted as resistance but is now acting as support. This technical indication, combined with the support around the completion of a falling ABCD pattern, suggests the potential for a bounce in the market. A rally above today’s high could lead to a test of resistance levels at 28.57, 29.45, and beyond.
Lower Price Levels Start with 26.74:
However, if the support at today’s low of 27.31 fails to hold, silver could see lower price levels. The 127.2% extension for the falling ABCD pattern completes at 26.74, with further support zones identified around 26.14, 25.89, and 25.91. It’s important to keep an eye on these levels for potential downside targets.
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