TradingView
django2
Feb 18, 2020 4:20 PM

Silver braking out  Long

SILVER (US$/OZ)TVC

Description

As mentioned on previous study we are completing that reverse head and shoulders bottom ,
The top of the shoulders along with the neckline form a right angled broadening wedge that we are trying to break out at the moment

If price accepts these levels I am expecting that measure move marked on chart to take place,
If not then a consolidation back to the trend line at 17.8 - 17.9 before we retest and finally break to the upside is likely to happen as it 's a common pattern on right angled broadening wedges like the one we are trying to break out from

They are plenty of bullish signals on Silver on the 1H, 4H , Daily and weekly time frames , nothing can be certain when dealing with markets but signals are strongly in favor with the bulls right now.


More