Multi Year Breakout in Silver. A New Bull Run?Silver Micro Futures has broken out from a triangle pattern with good volumes. It has been correcting under the same for nearly 560 Days. Due to geopolitical tensions, commodity prices are expected to rise. This could mark a bull run in Silver. Resistance is marked in Red. So it would have to take out the supply area to continue Rallying.
Even Though This could be the start of a bull run in silver, I would like to make a small and quick profit from the bullishness.
Buy @ 68888
Target @ 74757
Stop Loss @ 65466
Risk Reward Ratio 2:1
As it has broken out from a year-long correction we can expect silver prices to go higher after taking out Major Resistances.
Note: Views are personal, Not Responsible for P & L. DYOR before trading/Investing.
