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..