Goldybug

SILVER - Channels of Trend

Long
TVC:SILVER   CFDs on Silver (US$ / OZ)
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I have tried to provide a simplified trend prediction for SILVER .
I am concerned with the 1 month to 3 month timescale rather than short term trends for say day trading or scalping.

I notice that over the past 6 months SILVER has been trending a succession of upwards and downwards trending channels (roughly).
These channels have approxiamately 2 months duration each.
Each channel has a range reduced relative to its predecessor indicating reduction of price volatility .
The price may come out of the channel on exceptionally 'good' or 'bad' days but generally the trend and the channel are conserved.
Current trend is upwards within a tight channel.
Therefore I predict that silver will continue upwards exceeding my 2 target levels before downtrend channel appears during the next 2 month cycle.

My opinion only. Don't trade purely based on my analysis. Please draw your own conclusions and good luck.

If you agree with me send me a comment and a thumbs up. Thanks

GB