Silver had quite the nice and sudden retracement but it looks like we are staged for a quick move up. The 12 MACD looks like it should be screaming upward with bullish divergence. If you go to a lower timeframe you see a neat accending triannle forming and the EMA ribbon suggest we are on the verge of breaking out.
I am still looking for a longer term continuation pattern, and an accending triangle would make me the most confident that all my other TA and worldview is correct. We will see if I have to settle for a different contination pattern.
Gold is roughly in a similar position except the micro formation is already performing.
I am still looking for a longer term continuation pattern, and an accending triangle would make me the most confident that all my other TA and worldview is correct. We will see if I have to settle for a different contination pattern.
Gold is roughly in a similar position except the micro formation is already performing.
Comment:
Well, bugger, the acceding triangle performed and we are back at the long term trend line.
I was hoping we would hope from the steep angled uptrend to the shallower uptrend, and ultimately I think we will, but it seems to be taking longer than I hoped.
I was hoping we would hope from the steep angled uptrend to the shallower uptrend, and ultimately I think we will, but it seems to be taking longer than I hoped.
Comment:
Comment:
My other silver posts show I have simplified my chart formations to a flagpole with falling wedge. If/when this performs to target I'll look and see of the black trend lines in the post above come into play.
And I promise every Floridian that you will all be rich... because we're gonna print some more money! Why didn't anybody ever think of this before?
~Nathan Explosion
~Nathan Explosion
Accending triangle is performing as we break out of the pattern and the EMA ribbon. Lets see a new relative high.