By Anton Eljwizat – In today’s trading, the silver experienced much bearishness. However, as I will illustrate below the 4-hour chart’s oscillators support a bullish reversal for today. This might be a good opportunity for forex traders to enter the trend at a very early stage and at a great entry price.
• The chart below is the 4-hour Silver chart by ForexYard.
• The technical indicators that are used are the Slow Stochastic and Relative Strength Index (RSI).
• Point 1: There is a “doji” candlestick formed in the chart, indicating that a reversal should take place.
• Point 2: The Slow Stochastic indicates a bullish cross, signaling that the next move may be in an upward direction.
• Point 3: The RSI signals that the price of this pair currently floats in the over-sold territory, suggesting upward pressure.
Silver 4-Hour Chart
Forex Market Analysis provided by Forex Yard.
© 2006 by FxYard Ltd
Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.
