Silver is moving in a big trend channel. As shown in the picture, the price keeps bouncing off the edges. Only a breakout from the channel can lead to a trend movement in the larger time frame. So caution is advised at the edges. This analysis is constantly updated in the smaller time frame.
Note
In case of a breakout from the triangle, a rise to the top of the channel is the target.
Note
gap closed Note
See a breakout comin wich causes silver price to drop to at least to 25USD!Note
We are going slowly to the upper channel resistance. At this point we have to reevaluate the situation. There is potential for another leg to the lower trendchanel in regars to the DXY. If the DXY finds no support at its current point a silver breakout out of the channel is immanent. Note
The movement has been sideways. We testet the support 3 times. A break of these zone will bring us down. It can bring us down to the marked zone in my previous analysis.Note
I will place a stop buy order at 26.30 USD.
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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.