Consider this as the rising wedge in the long term downtrend or in the latest short term uptrend - whatever. Both mean 'sell'. Market is clearly exhausted/overbought. Moreover, there's a strong bearish divergence with MACD and other oscillators. First target 1.152, second = 1.143. Stop loss just above the last top (~1.163). Good luck.
Note
First target hit. It can form Head and Shoulders structure or go straight to second target. Time will tell. I'm closing half of my positions, setting Stop Loss to BE for remaining ones and let them run.Note
Silver has formed a skewed H&S pattern. If it breaks upper yellow trendline - close remaining positions. Don't be greedy...Trade closed manually
First target reached, remaining positions closed with profit.
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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.