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RizeSenpai
Dec 15, 2021 7:45 PM

Update on Silver's Bearish Partial Rise Setup Short

SILVER (US$/OZ)TVC

Description

A while back i uploaded a chart pointing out that silver was partial rising within a trading range and that the next time it hit the bottom of the range it'd be much more likely for us to break down and today here we are. I'm reuploading this chart as a relevant reminder of the impending breakout.

I expect that we should get a move down to the .786 and .886 area once things really get going.

Along with Silver i'm similarly bearish on Gold
Comments
dmcm10
how is a double bottom bearish?
RizeSenpai
@dmcm10, It's within a trading range and previous to hitting the bottom of the range it had a partial range which increases the odds of a bearish breakdown once the partial rise is confirmed by it hitting the bottom side of said range. I do see the argument for a double bottom but zooming out and considering the context of that double bottom leads me to see it as more of a bearish situation.
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