So on 6nov 2022 my thoughts used to be that if silver broke the flag below, silver could easily could go to 12.70, but it didn't.
Silver broke above so that means the bear flag was finish even the death cross what i was speaking about.
So now on 12/05/2023 that target around 12.70 is NOT changed for me.
Why:
-on the bigger picture you can see that it hit that black heavy trendline.(IF it's crossing that trendline AND using as a support, then and only then we can speak about extremely bullish, but for the moment i can't see it)
-The bigger picture is still showing a down trend (HH-LH-LH)
-Seeing a hidden bearish divergence (red and blue arrow)
-The economy is showing some cracks (meaning a recession could be on the horizon) and silver is being used in the economy
So enough points that the target 12.70 is still in play (IMO)
Patience is the key
Silver broke above so that means the bear flag was finish even the death cross what i was speaking about.
So now on 12/05/2023 that target around 12.70 is NOT changed for me.
Why:
-on the bigger picture you can see that it hit that black heavy trendline.(IF it's crossing that trendline AND using as a support, then and only then we can speak about extremely bullish, but for the moment i can't see it)
-The bigger picture is still showing a down trend (HH-LH-LH)
-Seeing a hidden bearish divergence (red and blue arrow)
-The economy is showing some cracks (meaning a recession could be on the horizon) and silver is being used in the economy
So enough points that the target 12.70 is still in play (IMO)
Patience is the key