So with much elation those that were pumping silver over the weekend cheered a 7% gap open on futures. However, this move fails to break the most recent high. If traders are looking for technical confirmation first then this would be the high to mark as the breakout level. Jumping in at the open Monday would be doing so at a dangerous level.
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I think we all know what happened now...
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Returned to this post today after making note that the Support at 20.00 was about to be broken. This price action is a great example in why traders MUST wait for confirmation. The attempt to break the high failed and price fell from there.
"Be to others the person you needed to meet 10 years ago"
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Youtube: www.youtube.com/c/NoroksNotepad
Twitter: twitter.com/noroktrade
Silver futures are *AT* the high but traders must be patient for confirmation of a close of the Day and Week to confirm if broken!