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TaherJalili
Oct 12, 2020 2:57 AM

Sideways Range Continuing Long

SILVER (US$/OZ)TVC

Description

This is an interesting market and a market where caution is probably best.

Whilst it is pretty clear we have a range and sideways move in play, there are a lot of traps and false moves occurring within it.

This means that whilst price may respect a support or resistance, it is making a false break higher or lower first.

The other reason caution may be best is because we have signs of momentum to the upside with a bottom pattern on the daily chart, but price is running directly into the major resistance level.

It could be best to watch this level for the next price action clue.
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