goodguy
Long

SLV Silver Outlook

AMEX:SLV   ISHARES SILVER TRUST
104 2 1
I've draw 2 major down trend lines in SLV             . The one from 2012 is clearly broken. The longer one from 2011 appears to been punched through by just a smidgen and come back to the line. To me the pattern since June looks most likely to be a inverse head and shoulders basing pattern. Often this pattern demonstrates good time symmetry from to start to the low to the final breakout (horizontal black arrows). We also appear to be in an up channel with some gaps to fill just ahead. So I would not be surprised if we get a little more up action to fill some gaps, followed by a small correction, followed by the true breakout in mid June or so. I know there is a lot of speculation here. But that is how it looks to me. Take care. Good trading to you.
@goodguy,

i always like your chart, great job man

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this was where i long

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i found that there are 2 downtrend line that blocked the price, and silver needs to break up

as of now i see small retracement
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but monthly is definitely UP (though April candle not completed yet)
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Reply
goodguy PRO jangseohee
Appreciate the feedback and your charts too. Pretty great call on Feb 14th calling this pattern. Have a great weekend and lets hope we are both right.
+1 Reply
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