On the silver 4h chart, we can see that there’s two head and shoulders pattern, and when silver broke the first neckline, it dumped for more Thant 16%, which is more than the technical price target.
Right now we can see another head and shoulders pattern formed, if silver broke the neckline, the target price will be $21.
What’s more, silver may have bee in a downtrend channel. According to the last head and shoulder pattern, if silver break the neckline support, it may go further to test the blue line support.
Sometimes price will not meet the price target or go further than the price target. When doing breakout trades, set stop loss, and consider to take some profit when going near to the technical target.
Right now we can see another head and shoulders pattern formed, if silver broke the neckline, the target price will be $21.
What’s more, silver may have bee in a downtrend channel. According to the last head and shoulder pattern, if silver break the neckline support, it may go further to test the blue line support.
Sometimes price will not meet the price target or go further than the price target. When doing breakout trades, set stop loss, and consider to take some profit when going near to the technical target.
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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.
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.