Silver turns to correction

16 february 2022 76
Ivan__Titov
Ivan__Titov

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3rd in the segment "Indices"
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For the first half of February, silver has been developing the upward movement. The price did not slightly reach 24 but then sellers took the initiative.

 

On the chart, “a bearish engulfing” is materialized implying the downward reversal. If the next candlestick confirms the reversal, we can wait for movement to Fibonacci retracement correction levels by 50% (decline to 23) and 61.8% (decline to 22.75).

Ivan__Titov
Ivan__Titov

Listed among the best MarketCheese authors
3rd in the segment "Indices"
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