SILVER Pivot Points Analysis - key support level to be broken for S1 Pivot as the next real bearish target

SILVER Pivot Points Analysis - key support level to be broken for S1 Pivot as the next real bearish target

20 November 2015, 21:11
Sergey Golubev
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W1 price is located within yearly Central Pivot at 17.41 and below S1 Pivot at 12.66 in the primary bearish area of the chart:

  • The price is breaking key support level at 13.96 from above to below for S1 Pivot at 12.66 as the next bearish target.
  • The price is breaking descending triangle pattern from above to below for the bearish trend to be continuing.
  • The key bullish reversal level for this pair is 19.39; if the price breaks this level to above so the price will be fully reversed to the bullish market condition in good breakout way.
  • The key bearish reversal level is 11.11; if the price breaks this level to below so we may see good bearish breakdown.

InstrumentS1 Pivot
Yearly PP
R1 Pivot
XAG/USD
12.66 17.41
20.45

Trend:

  • W1 - bearish
  • MN1 - ranging bearish
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