29.07.202408:05 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of Silver Commodity Asset, Monday July 29 2024.

Relevance up to 23:00 2024-07-29 UTC--4

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Although on the 4-hour chart, the Silver commodity asset is in a Sideways condition but under Seller pressure as indicated by the EMA 20 which intersects below the EMA 50, but with the appearance of a deviation between the Silver price movement and the MACD Histogram indicator, it gives an indication that in the near future Silver has the potential to be corrected to strengthen to the level of 29,409 and if this level is successfully broken upwards, Silver will continue to strengthen to the level of 30,488 if the momentum and volatility support it, but all of these strengthening correction scenarios will be invalid and canceled by themselves if Silver suddenly returns to its initial bias, especially if it breaks through below 27,388.

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