Cankles

Cankles

Overbought conditions on Daily RSI (80/20 settings) Silver is at the top of the Bollinger bands, top of the 100% Fibonacci retracement, finding resistance from an ascending trend line starting from 31st of January 2008 and possibly at the top of a rising wedge (the white lines highlight the rising wedge and the red line is the ascending trendline starting from...

Cankles

This could be viewed as a Bullish pennant or flag (Pennant in my personal opinion). I've highlighted the red triangle to add with the yellow flag pole to create the Pennant. The yellow trend lines form the Bullflag. Whichever way you look at it, the result should be the same; breakout to the upside.

Cankles

So the Bear flag had a fakeout to the upside then dumped. Now Price is finding support on the 100% fibonacci retracement from the all time high and 2nd standard deviation of linear regression. Once the bottom has been set, go long.