Analyzing Silver price movement

The daily silver chart has shown a strong engulfing candle that has absorbed two days of trading, along with a divergence on momentum indicators between the recent lows and touching the last low of an ascending yearly trendline. These are all indications of a potential change in price direction from bearish to bullish. Looking at the 4-hour timeframe to try and determine the next price movement based on the overall trend, we can see that the price settled last week at a resistance level of 20.55, which is also the 61.8 Fibonacci level. My expectations for the price are either a slight downward correction to retest the neckline of the recent lows at the 20.25 level before continuing upward to 20.93, or a direct move upward to the 20.93 level, which is where a descending trendline intersects with the 100-period moving average on the 4-hour timeframe and the 38.20 Fibonacci level.

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