SILVER: LONG - Inverse H + S Bullish reversal pattern forming..
TECHNICALS:
1.
- Inverse H + S bullish reversal pattern forming on hourly/4h charts
- Neckline resistance @ ~ 16.2
- This level would need to be broken in order for the pattern/reversal to be confirmed
2.
- Shoulder neckline of pattern is just below 16.000 Physchological level
- This level and ~ 15.94 make up a resistance/support zone the shoulders of the pattern are forming within
FUNDAMENTALS:
- Alot of high volatility news items for USD including FOMC minutes,
ADP non-farm employment figures and ISM Non-manufacturing PMI.
- Trade with care as could be some big moves prior/during the releases
- However as well as these alot of geopolitical tensions at the moment are
proving very negative for USD including:
- The North Korea tensions
- Tarriffs
Therefore overall my expectation is for Silver to breakout of this pattern and continue bullish hopefully.
Appreciate any thoughts/comments,
Thanks for reading,
James
1.
- Inverse H + S bullish reversal pattern forming on hourly/4h charts
- Neckline resistance @ ~ 16.2
- This level would need to be broken in order for the pattern/reversal to be confirmed
2.
- Shoulder neckline of pattern is just below 16.000 Physchological level
- This level and ~ 15.94 make up a resistance/support zone the shoulders of the pattern are forming within
FUNDAMENTALS:
- Alot of high volatility news items for USD including FOMC minutes,
ADP non-farm employment figures and ISM Non-manufacturing PMI.
- Trade with care as could be some big moves prior/during the releases
- However as well as these alot of geopolitical tensions at the moment are
proving very negative for USD including:
- The North Korea tensions
- Tarriffs
Therefore overall my expectation is for Silver to breakout of this pattern and continue bullish hopefully.
Appreciate any thoughts/comments,
Thanks for reading,
James