SILVER BREAKOUT and Bounce off support = BUY SIGNAL!

Silver breaking above recent high and bouncing off support at $26.21. Upside Target Price = $28.18 for a 3.4R trade!!

MACD breaking above 0 line and Bullish divergence and rising showing NEW Uptrend on Dailly Time Frame and resuming Weekly Uptrend. ALL Time frames weekly, daily, 8 hr show a BUY signal.

Expect Silver to eventually Break ATH but 1st $28.18. But expect Silver Miners to outshine SIlver.

Checkout PAAS Trade posted here.

As I said in that post I expect Silver to take everyone by surprise. I expect PAAS to break out tomorrow as I described in that thread.

Entry = $26.39. SL = $25.89. TP $28.18

Trade active:

Trade is in slight losing position now as Entry Price was $26.39. Will keep SL at $25.89 and let trade play out.

Trade active:

Still slight losing position but price still looks poised to breakout. Probably next week. The price is hugging TL support and Horizontal Support right at $26.36. Since I am not in a winning position I do not like to ADD to a losing position. However, I think we are due for a breakout soon and expect confirmation with a breakout above recent high of $26.70. That would be another BUY signal but given the lack of a winning trade right now I will NOT add to this trade yet.

Trade active:

Does not look like many people are interested so I will not update this thread post. having said that I pan to stay in this trade most all of 2021 and probably beyond. This swing trade is likely to turn into a position trade and longterm hold of many months. Well in profit now and will only update when I get out of trade. Otherwise for anyone watching this in the future expect that I will attempt to buy the dips and expect this to be a rather large gain by the end of 2021.

Comment:

SL hit in Jan 8, 2021. Losing Trade for loss of 1R. Just updating this Trade Idea.