11.07.201705:11 Forex Analysis & Reviews: Technical picture of SILVER on the system "Regression channels" for July 10, 2017

4-hour timeframe

Technical data:

The senior linear regression channel: direction - down.

The junior linear regression channel: direction - down.

Moving average (20, smoothed) - down.

CCI: -170.3553

Explanations:

Based on the analysis of silver on July 10, it follows that the price resumed a strong move down after the upward correction was completed. The senior channel is pointing down, which indicates a downward direction of the global trend. The junior channel is also directed down, which means a downward trend in the short term. At the moment, the price is below the removals and below Murray's level of "4/8", which makes the continuation of the downward movement more likely. The first target for the downward movement now is the Murray level of "3/8" - 15,234. If the price overcomes this level, the new target will be the Murray level of "2/8" - 14,844. The moving average line is directed down, and the price is below it, which signals the current downward direction of traffic. Heiken Ashi painted the last bars in blue, which signals the current downward movement, thus, before the indicator turns up, which shows the beginning of the correction, the sell orders can be accompanied. The CCI indicator is near the -200 level, which signals a strong oversold of the instrument.

Nearest support levels:

S1 - 15,234

S2 - 14,844

S3 - 14,453

Nearest resistance levels:

R1 - 15,625

R2 - 16,016

R3 - 16,406

Trading recommendations:

After analyzing the silver, we can conclude that it is recommended to consider trading on a decline with the first goal of 15,234. The second target for orders to sell is at the level of 14,844. It is recommended to set the Stop Loss level above the moving average and, as it falls, move the order down. S / L is also recommended to be transferred to zero if the profitability of the transaction will be 300-600 points. Manually reduce the sell-position in the case of coloring 1-2 bars in purple (depending on the size) or when bouncing from the level of 15,234. The Take-Profit orders can be placed slightly above the target levels.

In addition to the technical picture, one should also take into account the fundamental data and the time of their release.

Explanations for illustrations:

The senior linear regression channel is the blue lines of unidirectional movement.

The junior linear regression channel is the violet lines of unidirectional movement.

CCI - the blue line in the indicator window.

Moving average (20, smoothed) - the blue line on the price chart.

Levels of Murray - multicolored horizontal stripes.

Heiken Ashi is an indicator that colors bars in blue or purple.