I was expecting that cup and handle formation - blue circle - to play out on Silver but it failed.
Now back in the buy zone between 17.5- 15.6 where side ways move with support on this level will form a reverse head and shoulder pattern that will send us to the upside off the channel we have been consolidating since mid January
If not next stop south is the 17.37 and further bellow it the bottom trend-line of the channel which is a moving target , roughly at the 17.25- 17.2 levels but being bullish on silver right now I am not giving many chances on those levels to play out and if they will I will deal with them as a good opportunity to load on my long position.
Now back in the buy zone between 17.5- 15.6 where side ways move with support on this level will form a reverse head and shoulder pattern that will send us to the upside off the channel we have been consolidating since mid January
If not next stop south is the 17.37 and further bellow it the bottom trend-line of the channel which is a moving target , roughly at the 17.25- 17.2 levels but being bullish on silver right now I am not giving many chances on those levels to play out and if they will I will deal with them as a good opportunity to load on my long position.
Comment:
*type correction * back to the buy zone between 17.5 - 17.6 not 15.6
