Channel building following the important breakdown of 28 February. Silver needs to stay above $16.5 for the rally to sustain.
Target Price of $27.5 if the rally crushes resistance.
Price must break above blue line to maintain momentum.
Bullish pattern to resume if prices hold above support. Buyers need to come in strongly with high volumes to keep uptrend. Storage of oil on tankers is normally 25K a day, and it’s been $100K+ a day and is expected to rise even more.
Heading lower next week, if prices cannot hold above $4.15 Monday and Tuesday. Trend momentum remains bullish if price remains above support. Volume needs to continue to ramp-up for mid term bullish trend to sustain.
Breakout on 13 April Target price of $6 if prices can remain above $4.3
Gold should continue to move higher if it STRONGLY breaks the next resistance at 1748.