I was looking at the daily chart and noticed that the price was catching support along the 200MA. We did this before back in 2016 at right around the same price and time of year. If this support can hold, I think we may get a big breakout beyond resistance. This will be no small feat though. Silver broke below the long standing uptrend support line (blue) and the...
Silver is doing its best to keep us all guessing as to what it is going to do next. For me it went down instead of up over the time period expected, and then it missed my downside target by ten cents on the upside, only going down to 15 rather than 14.90. I’m an Investor, not a chaser, so it didn’t get my money. Talk about Tricky though!
With the authoritative...
We already have double bottom in monthly chart.. Although I believe we are going to see 10-12$ range before starting strong up trend.
I'm not going deep in fundamentals of why it cannot reach that target. Odds would be against me.
BUT if we cannot break 16.20$ and close higher on monthly, 10-12$ is on the cards TECHNICALLY. Even if we do not crush recent lows,...
Bearish Harmonic identified. Price reached 0.886 retracement and is likely to reverse now as it is at the Potential Reversal Zone.
Stops at 16.2 which would invalidate the harmonic and allow for more upward movement.
Please use appropriate risk management and position sizing.