With some facts on the 4-hour chart as follows:
1. The appearance of the Inverted Head & Shoulders pattern.
2. Price movement inside the Bullish Pitchfork channel.
3. There is a Bullish 123 Pattern which is followed by several Ross Hooks (RH).
4. Golden Cross of EMA 21 and WMA 55.
Where the four things above give an indication that Buyers are still dominating Silver commodity assets, in this case it seems that in the near future they will try to break above the nearest Ross Hook level, namely at level 23,630. If this level is successfully penetrated above, the Upper Line level of the Bullish Pitchfork will be the target. Silver is the main target of Silver, and if the momentum and volatility are sufficiently supportive then the 25,250 level will be the next target to be targeted unless on its way to the targets described earlier there is a sudden downward correction which is quite significant to pass the 21,995 level or Mid the level of the Bullish Pitchfork Channel then all the Bull scenarios previously described will become invalid.
Relevance up to 03:00 2022-12-16 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
