Silver Rebounce at First Support

Silver Rebounce at First Support

Previously: Silver Shown Strong Bearish

Silver take profit ready, now facing the fisrt major support. The following is case study by Price&timing methodology.

Indicators :

- RSI Period 14 with 30 level as oversold and 70 level as overbought.

- The 4X1, 2X1, 1X1, 1X2 and 1X4 Gann Angels.

- Gann’s Price&Timing Study.

- Simple Moving Average 50 Period (Blue), 100 Period (Red) and 200 Period (Green) on the chart.

Silver is above 2×1 angel’s Gann as support but remain strong bearish mode. I prefer that the market should rebounces by the first time face to. Below 31 level will continue to be strong decline vice versa.

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