Silver Reversal in the Works

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

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