On a breakout of the pennant at $15.70 a move to between $16.57 & $16.80 can be expected.
Once the initial target of $16.57 is reached, a protective stop should be placed tightly under the
price because although it may reach as high as $16.80 or so profit taking can be expected, and the
price of silver could fall back to the original level of around $15.70 ...
This is an update to previous silver charts that I've published. I am still remaining bullish
and have outlined an initial target of US$25.57 which is the 1.618 extention or the height
of the right angled triangle. The target of US$15 has been achieved and it's on to the next
one now US$25.57
I think that we are still in the early stages of a spectacular bull ...
READ THE MARKET COMMENTARY IN THE CHART CAREFULLY...AND TRY TO LEARN THE ELLIOT WAVES...OTHERWISE ITS TOUGH TO UNDERSTAND MY ANALYSIS
All information given inside the chart and i shared this for educational purpose only. Maximum i wont give the followup or update in the old chart posted as educational trade idea, sometimes i will...so please make sure if i posted ...
Hey guys today I bring you the real possibility that a new bull run might start in silver! We have just been in an accumulation pattern (blue rectangle) right after breaking a huge descending triangle downwards! These accumulation patterns take us from bear markets to bull markets, however silver is facing heavy resistance at the old descending triangle support ...
I present this potential Cypher for several reasons:
1. This ratio will rise as Silver rises. As the CD leg is
a rally in this ratio, this implies Silver is rising as well.
The fact that this CD leg appears to be setting up for
a move to the PRZ is further implication that the
metals may be turning.
2. IF one agrees that Silver is headed higher longer ...
We got some favorable seasonal price action in Silver with some sort of bottom in December, coupled with a little safe haven buying as a result of the stock market sell-off. Looking suspiciously like a short covering rally against a potential double bottom going back to December 2015. The rally out of the bottom doesn’t have the oomph you would expect out of a ...