Is Silver going to brake bullish out of the current Pennant?
It is a matter of time for Silver to brake the current Pennant.
Due to numerous reason (check the attached idea) my opinion is that it will brake bullish. The only question is if it will have a false brake down before the pump starts. in case of a brake down, I see the levels of 15.575 and 14.630 as strong horizontal support
Due to numerous reason (check the attached idea) my opinion is that it will brake bullish. The only question is if it will have a false brake down before the pump starts. in case of a brake down, I see the levels of 15.575 and 14.630 as strong horizontal support
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Flirting with the resistance
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Break Occurred, high chance of dropping to 15.575
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The Blue scenario is unfolding
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As we did not see a recovery to the purple line, where Silver broke support, the chance of a further downwards continuation is stronger.
Next support levels 13.6 and 12.2
Next support levels 13.6 and 12.2
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.... although RSI is oversold, we don't see any evidence of RSI divergence yet.
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Short term recovery as predicted
Respected the support