Although my overall analysis in silver shows that price moves to the down, we now have a high probability long setup. Price is testing a key support level (black trendline in the chart) and has formed two harmonic patterns with both their D points exactly at the support level, bullish gartley and a bullish ab=cd.
Speaking in elliott wave count, we have a completed cycle with 5 waves up followed by a classic abc pattern correction. In addition we can see a bullish divergence with RSI.
So many factors which gives us a very nice long opportunity.
Good luck,
John
Speaking in elliott wave count, we have a completed cycle with 5 waves up followed by a classic abc pattern correction. In addition we can see a bullish divergence with RSI.
So many factors which gives us a very nice long opportunity.
Good luck,
John
Trade closed: target reached
