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23.11.202206:28 Forex Analysis & Reviews: Technical Analysis of the Daily Price Movement of Silver Commodity Assets Wednesday, November 23, 2022.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 23.11.2022 analysis

If we look at the daily chart of the Silver commodity asset, it can be seen that the Bullish Pitchfork Channel has formed where Silver's position is currently trying to test the Upper Pitchfork where the level to be tested is 22,190, but because of its failure to reach the upper line of the Pitchfork, which made the Hagopian Rules condition so that Silver is now is below the Pitchfork Middle Line coupled with the emergence of deviations between price movements and the CCI indicator, if Silver turns down to penetrate below the 19,375 level, it is very likely that the Bull scenario described previously will cancel itself.

(Disclaimer)

Arief Makmur
Analytical expert of InstaForex
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