TLDR bbby going bigly beyond
Measured move from previous run up 120% brings us up beyond previous resistance around $45 from where we are now
Previous run up saw the largest volume bar entry BBBY has ever seen followed by 15 bars on the weekly chart or 69 bars on the daily before blast off
This time we have had again the largest volume bar entry ever bigger...
Got some lines and what not there, all tasty stuff right.
Checking around various time frames, got various gaps to retest and fill and what not.
Got the overbearing original trend from last 10 years or so in heavy green dashed channel.
That overbearing big trend, which we broke out of, conveniently going to line up with the 100DMA, along with a support line...
As you can see on the tremendous chart, silver will go and do things before it goes on a tremendous rocket ride.
Some little gap resitances and supports being seen on the different time frames.
Overall bigger picture is a symmetrical triangle which should resolve bullishly based on the SLV/GLD ratio chart.
In the shorter term we may follow roughly follow the...
Looking like a nice lil possible triple top coming thru before heading south to home base it at 50DMA and other trend support in the purple box.
Then we need to try and go way beyond beds and even beyond that overhead downtrend channel in red, that’ll be the moment of truth if we make it out of the downtrend cycle.
If it doesn’t it’ll be onwards to check out...
