has been forming a very defined symmetrical triangle in the last week or so. There also seems to be a hidden bullish divergence
on the chart with price action forming higher lows yet RSI
prints lower lows. This tends to be a signal of a continuation of the overall trend (which is towards the upside in my opinion. Also, as indicated by the broken line on the RSI silver
is has just now found a bounce on the historical point of control. See beck over the last month where silver
bounces off the line multiple times. MACD
also seems about to cross bullishly. Symmetrical triangles also tend to break upwards most of the times.
Final verdict: Silver
seems perfectly positioned to break out bullishly from this triangle in the short term towards the upper breakout target.