The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Technical outlook:
Silver prices declined to the $20,80 lows during the New York session on Friday, falling in line with a short-term forecast. The metal is seen to be trading close to $20.85 at this point in writing and is expected to resume higher towards $24.00 in the next few trading sessions. The bottom line is that prices should stay above the $20.45 interim support.
Silver prices have been dropping since February 2021 after hitting highs at around $30.08 as seen on the daily chart. The metal has been successful in carving a series of lower lows, the recent one being at $20.45. Also, note that the recent larger degree downswing is between $26.22 and $20.45, which is being worked upon as the correction is progressing.
Silver has already carved the first and second waves within the corrective phase between $22.44 and $20.60 in the past few trading sessions. If the above structure holds well, the next leg should be higher towards the $24.00-20 area before the downtrend resumes. Also, note that $24.00 is close to the Fibonacci 0.619 retracement of the above downswing.
Trading plan:
Potential rally towards $24.00 against $20.00
Good luck!
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
