Desc. Triangle Formation on Silver-Short term not much going on!
My first 4x analysis on tview(aside from cryptos) and as always in great detail.
To begin with, personally I've been looking into investing in gold/silver for some time now. This is just a daily, short-term t.a, which I will most likely follow it through with a more medium/long term analysis in the near future(which will most likely be in even a greater detail, and analyse average costs of silver prod, supply of silver, golds correlation to silver and it's effect, amongst other factors, with a hint of pretty good long risk-reward worthy opportunity just seen from first glance).
However, silver on the short, looks fairly stable, not much movement, as shown by both the ATX and RSI in the last couple of weeks/months. There can be 2 equally likely outcomes in a descending triangle pattern(Noted on the graph with the green and red lines). All the resistance and support lines are also noted, and I've placed a few buy orders for couple % of my portfolio, that will most likely end up being long holds.
Personal note: I would trade when a confirmation happens, whether it'll be a bullish or a bearish result of the descending triangle, I do not expect a great return entering meanwhile.
isclaimer:
//This is not a buy or a sell signal, you decide what to do with your own money!//
If you liked my take on Silver or other markets, give it an agree, share or follow for more well-detailed analysis, cheers!
To begin with, personally I've been looking into investing in gold/silver for some time now. This is just a daily, short-term t.a, which I will most likely follow it through with a more medium/long term analysis in the near future(which will most likely be in even a greater detail, and analyse average costs of silver prod, supply of silver, golds correlation to silver and it's effect, amongst other factors, with a hint of pretty good long risk-reward worthy opportunity just seen from first glance).
However, silver on the short, looks fairly stable, not much movement, as shown by both the ATX and RSI in the last couple of weeks/months. There can be 2 equally likely outcomes in a descending triangle pattern(Noted on the graph with the green and red lines). All the resistance and support lines are also noted, and I've placed a few buy orders for couple % of my portfolio, that will most likely end up being long holds.
Personal note: I would trade when a confirmation happens, whether it'll be a bullish or a bearish result of the descending triangle, I do not expect a great return entering meanwhile.
isclaimer:
//This is not a buy or a sell signal, you decide what to do with your own money!//
If you liked my take on Silver or other markets, give it an agree, share or follow for more well-detailed analysis, cheers!
Related Ideas
-Step_ahead_ofthemarket.