SILVER, where are we headed next?
It can be seen from the chart that the price has formed a descending triangle pattern. The target is around 28.7 as illustrated on the chart. If the price breaks the descending trendline and closes above it, we will be opening LONG positions and aiming for our target. On the other hand, if the price manages to drop down till the are plotted on the graph, we will be looking for long positions from there. The risk-to-reward will be better in this case.
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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.