GoldAddict

Silver Getting Ready to Test Bottom of Channel...Opportunity!

Short
TVC:SILVER   CFDs on Silver (US$ / OZ)
Silver has been in this upward channel since 2019...If you look at the chart I have circled all the significant support and resistance areas. We started the channel in 2019 (Circled on my chart)...Then in March 2020 we first hit the bottom of the channel but didn't know what it was yet (Also Circled in my chart)...The highs in June 2019 made the second reference point around $30 ( Circled in my chart) and this is when the idea of the parallel channel started...We have additional evidence that this channel is indeed the current pattern from looking at the mid channel resistance and support areas that are also circled....Look at the middle of the channel and you will clearly see at least three areas where the price was first supported and then broke down in march (leading to a big drop to the bottom) then the price rebounded and broke above the middle leading to a parabolic move to the upside to $30 from the $11.30 bottom in March...Following that move the Price found resistance at $30 and fell to the middle of the channel breaking down through it with out much support...Following that, it attempting to retest the middle of the channel twice ( circled on my chart) before finally getting rejected here in the last week of trading (Circled in my Chart)...We will more than likely retest the bottom of the channel at around $20.00 bringing a HUGE buying opportunity for Silver Miners (Circled in my chart)...Don't miss out on this opportunity if it comes.......Potential for 3x gains on miners at the next low...
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