It is a matter of time for Silver to brake the current Pennant.
Due to numerous reason (check the attached idea) my opinion is that it will brake bullish. The only question is if it will have a false brake down before the pump starts. in case of a brake down, I see the levels of 15.575 and 14.630 as strong horizontal support
Due to numerous reason (check the attached idea) my opinion is that it will brake bullish. The only question is if it will have a false brake down before the pump starts. in case of a brake down, I see the levels of 15.575 and 14.630 as strong horizontal support
Note
Respected the support
Note
Flirting with the resistance
Note
Break Occurred, high chance of dropping to 15.575Note
The Blue scenario is unfolding Note
As we did not see a recovery to the purple line, where Silver broke support, the chance of a further downwards continuation is stronger.Next support levels 13.6 and 12.2
Note
.... although RSI is oversold, we don't see any evidence of RSI divergence yet.Note
Short term recovery as predicted
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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.