abenoit2
Long

$SLV $TAHO $CDE $SI_F $SSRI $XAGUSD $SVM

TVC:SILVER   CFDs on Silver (US$ / OZ)
Few technicals all seem to indicate move up in silver when the coil pops.

(1) RSI divergence seen back to 2013.

(2) Lower trendline remains intact in the weekly RSI reading.

(3) What appears as capitulation in August 2017 that temporarily fell below long term support trendline dating back to early-mid 2000s.

(4) No retest of the lower RSI weekly trendline since January

(5) Descending triangle and symmetrical triangle going back to 2016 and 2015, respectively are coming to an end.

It could retest high 14s before a move up, but based on historical action, I think this move up within the next few months could be a new leg up.
@abenoit2, I agree with your views formed from your analysis and confirmations.
Your flat bottomed triangle would suggest a break to $12 := $16 - ($20 - $16)
The upside break from your identified downward sloping wedge did not provide the trend reversal everyone was expecting. It popped then seem to lose interest and momentum.
Therefore, IMO, that places more downside pressure on price. So I think lower before higher, but maybe some fakeouts along the way to keep the bulls encouraged.
... just my 2c worth
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out