Silver price action is just getting tighter and tighter. This cant go on. It has to break one way or the other. But which way is it gonna be?
Comment:
One months later and silver is still squeezing. Lol
Comment:
This has turned out differently than i expected, but in hindsight it makes sense that price would break down.
1) You have that long stretch of yellow line in the beginning,
2) Then you have a relatively small breakup, followed by consolidation lasting longer than usual.
3) Being bearish was obviously the right choice considerin the consolidation lasted unusually long + the long stretch of down pressure signals that after consolidation the price will continue down..
1) You have that long stretch of yellow line in the beginning,
2) Then you have a relatively small breakup, followed by consolidation lasting longer than usual.
3) Being bearish was obviously the right choice considerin the consolidation lasted unusually long + the long stretch of down pressure signals that after consolidation the price will continue down..