On November 2014, just as ended, Silver touched the PRZ of a weekly pattern (notice that B point didn't reach 61.8 to make it a ). Despite the light pullback that created C point (usually in Bats, C shows a deeper pullback that almost reaches back to A) it is still a valid Bat and that Weekly that we got when the price touch the PRZ in Nov 2014 shows that there are buyers near 14-15$ that is also a major structure zone, as you can see from historical price behavior
Since the spike in Nov 2014, Silver managed to create another weekly pattern, a smaller one - (pink) - that the price is now trying to test X point (13.8$)
So we have to patterns that may indicate that Silver may be on the verge of a huge turn.. but there's no confirmation yet!
The price is still below the Fast and 50 line that both, along with the weekly downtrend line create a strong near 16$.
Only if the price will break above 15-16$, it will create a longer term buy signal.. meanwhile, 15-16 could be the short term target zone for the smaller .
If the yellow Bat will play out and we will see price breaking 16$, we are talking about a rally that could reach 20$, 26$, and 32$ as weekly target zones.
The longer term trading opportunity shown in the chart shows a Risk/Reward ratio of about 4!!
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