Silver was fairly strong today, even when ES and NQ sold off shortly after open. I had been looking for a short on silver since it broke below a major trendline, but this ascending wedge is a much shorter term pattern. It's always good to have confirmations on both longer and shorter time frames, so I like this setup. However, silver has been volatile and has the potential for short squeezes that cause big moves, so it's important to manage risk properly on this.
Chart PatternsTrend AnalysisWedge

Also on:

Related publications

Disclaimer