SILVER ADX line crossing up the 0 line with uptrend setup
Many indicators point to a high breakout for silver at this point But one of the most reliable ones is the ADX. In this 3 day chart it is extremely bullish for the ADX to finally crosses up the 0 line which signifies the upward movement is gaining very positive momentum. The very last time it did this was in July 2020 before the parabolic move.
The choppiness index is still in the choppy zone at the moment. It has a high probability of breaking down to the trending area again IMHO.
On the downside though, the OBV for the 3 day chart is showing negative divergence. This needs to be watched very closely. It is not the case for the daily or the 5 day setup.
will be interesting to watch in the next couple of weeks.
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
Personally I hold both long term long positions and occasionally short term short position, for disclosure purpose.
The choppiness index is still in the choppy zone at the moment. It has a high probability of breaking down to the trending area again IMHO.
On the downside though, the OBV for the 3 day chart is showing negative divergence. This needs to be watched very closely. It is not the case for the daily or the 5 day setup.
will be interesting to watch in the next couple of weeks.
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
Personally I hold both long term long positions and occasionally short term short position, for disclosure purpose.
Comment:
ADX this time came back up the 0 line from a lower point than July 2020