SILVER...🚀?

 

Precious metals are metals that are highly valued because of their scarcity. This group is generally comprised of platinum, gold, and silver. Although gold is favored by most investors, silver is also a highly sought-after metal because of its price and its application. As mentioned above, silver is commonly used in the production of jewelry and coins and was also commonly used in the photography industry. It is also a key element of electronics since it has the highest conductivity of any other metal.

MONTHLY ANALYSIS

I see silver going to 97500 soon and then a small and long correction towards 80000 all these prices are zones and not levels so don't treat it just as levels there can be a deviation of 10-15% on both sides. The final resistance I see is 125000.

WEEKLY ANALYSIS

Studying the weekly chart I see a super channel breakout and the target still remains the same as 97500 and then a support at 80000 levels.

RISK:REWARD ANALYSIS

According to the risk & reward analysis, there is a chance of earning of 65% by risking 10-12%.

DISCLAIMER: THIS IS NOT A BUY/SELL RECOMMENDATION. IT IS JUST FOR AN EDUCATIONAL PURPOSE. CONSULT YOUR FINANCIAL ADVISOR BEFORE TAKING ANY POSITIONS. I WOULD NOT BE RESPONSIBLE FOR ANY OF YOUR PROFITS / LOSSES.