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FTE1995
Jul 17, 2018 9:20 AM

SILVER: LONG - Watch trend-line for Bullish breakout! Long

SILVER (US$/OZ)TVC

Description

TECHNICALS:

1.
- Price has been tracking a descending trend-line within a strong bearish trend since 14/06/2018
- This line has acted as strong resistance with price bouncing multiple times
- However price may finally be about to break-out bullish as strong support has been found around the 15.75 region

2.
- Bullish RSI divergence can be seen
- The price within the trend-line has been printing lower lows and lower highs
- However these have been printed as higher highs and higher lows on the RSI chart
- Indicated bullish momentum
- Could be precursor to bullish breakout

3.
- Overall double bottom pattern on the daily timeframe points further to a bullish breakout, the bottoms
of the pattern have found support at the previously mentioned 15.75 zone with multiple candle wicks seen around
this level.


Appreciate any thoughts/comments,

Thanks for reading,

James
Comments
Spokoze
Went Long silver again today.....
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