Silver appears to be coming to the end of a symmetrical triangle on shorter time frames. If it breaks out and follows traditional breakout targets, we can expect that Silver will rise from its breakout point equal to the height of the triangle. This would take Silver up to the $18 line, which would also be a possible breakout of the consolidation triangle it has been tracking into. If so, Silver could eventually work its way up to challenge a long term resistance line (see related idea linked below for this resistance).
RSI is painting the same story, and has room for a breakout move up within it (bullish).
RSI is painting the same story, and has room for a breakout move up within it (bullish).
Note
UPDATE: This morning, Silver broke up through the symmetrical triangle. Good sign for beginning some solid upward momentum.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.