Definetely everyone is waiting for a VERY STRONG LONG BREAKOUT for silver. And the key word here is: EVERYONE. We can be 80% sure, that silver will rally in the coming weeks/months. But what does a rally need? STRENGTH, ENERGY and MOMENTUM! That's what we still don't have.
Silver simply can not perform a BREAKOUT with RSI being near 60-80 on every timeframe!
So in my opinion we are going to touch the 16.9 level once again slowly. To gain strength for RSI. Even the Stochastic shows a coming SHORT.
I think we can WIN more money on these small but more predictable moves, than on a breakout. TRADE SAFE!
PLEASE SHARE YOUR OPINION! If don't agree, comment. If agree, like and follow for more, it is a nice feedback to me :)
Trade closed: target reached
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Reached my 16.97 target. Now waiting for a sign of upmove. FOLLOW ME for next SILVER idea :)