Silver most likely breaking trend line
After having a big rally long term, buying pressure has slowed down and selling pressure will take over from people taking profit.
Based off experience in the market, the more a trend line is being tested, the more pressure is put on it. So each time it tests it, it weakens it until it cannot support the weight of sellers, and thus, will be broken more easily.
Here, we can see it being tested a least 4 times. In my experience, a trend line that has been tested more that 3 times is most likely to break.
Looking for sharp sell off after people suddenly realize that buying pressure has died off.
2.0 RR
Based off experience in the market, the more a trend line is being tested, the more pressure is put on it. So each time it tests it, it weakens it until it cannot support the weight of sellers, and thus, will be broken more easily.
Here, we can see it being tested a least 4 times. In my experience, a trend line that has been tested more that 3 times is most likely to break.
Looking for sharp sell off after people suddenly realize that buying pressure has died off.
2.0 RR
Comment:
still looking for a break here..
Comment:
I was wrong, the support held well and it bounced up..