SILVER: buy TP 27.5 (head & shoulders)
Hi guys, pay attention to the silver. We have a primary downward trend since Aug’20. This trend consists of 4 middle trends:
Period Duration Start price End price
#1 Aug’20 – Nov’20 4 M 29.95 21.86
#2 Nov’20 – Jul’21 8 M 21.86 25.68
#3 Jul’21 – Oct’21 3 M 25.68 23.47
#4 Oct’21 – today 1 M 23.47 25.18
We can detect a double bottom at the end of the MT#1 and a head and shoulders at the end of the MT#3.
The right shoulder gave us confirmation of the completion of MT#3.
Right now, the price has overcome the neck line and I see it is a good opportunity to buy silver with target price 27.5 (PT resistance).
Please let me know your opinion.
Best regards.
Period Duration Start price End price
#1 Aug’20 – Nov’20 4 M 29.95 21.86
#2 Nov’20 – Jul’21 8 M 21.86 25.68
#3 Jul’21 – Oct’21 3 M 25.68 23.47
#4 Oct’21 – today 1 M 23.47 25.18
We can detect a double bottom at the end of the MT#1 and a head and shoulders at the end of the MT#3.
The right shoulder gave us confirmation of the completion of MT#3.
Right now, the price has overcome the neck line and I see it is a good opportunity to buy silver with target price 27.5 (PT resistance).
Please let me know your opinion.
Best regards.
Trade closed manually:
Unfortunately we went sideways. Do you think it is worth continuing to keep long?