Silver is in a huge triangle formation for the last 11months. ? Bull flag.
Awaiting a break from this pattern.
Will it be up or down? I expect it to breakout to the upside. Let us see. Wait for confirmation.
Gold has recently move above the resistance zone as published in a recent post.
Silver is following suit and testing the resistance zone. The next few weeks will show if this materializes or not.
I am inclining towards long position - but would like to see the confirmation by a clear breakout.
First chart published on Trading View - comments welcome but go easy :-)
Long-term view on silver / British Pound: Bullish for the next 6-18 months
QE and virus uncertainty weigh on global economic outlook so traditional safe havens remain attractive. With gold having reached its ATH recently, I believe silver offers more upside potential in the mid- to...
May be a little preemptive looking at the monthly candle like this before close (in a few days). Looks promising. Can't get any physical silver cheaper than around £20/ troy ounce at the moment either; showing massive divergence between physical and spot prices!
According to this count Silver (priced in GBP) is due a correction but it would also suggest that we can expect a 5th wave up to complete the move. The only question I ask myself in this case is if this is way too obvious and easy and therefore to expect something completely different to unfold.
Hitting resistance on the 3rd arc pair on the minor chart and the 4x1 Gann fib ray on the major chart - Today's candle has caught support on the 1x2 fib ray on the minor chart, if support here fails the price will look for the 1x1 fib ray beneath
Short term target £13.20,beyond if golden cross of 50EMA over 200MA holds,eve/adam pattern description and possible extensions to support and resistance. Looks like handle extension impulsing to recent adam structure price extension,confirming the bottom enroute as indicated on the chart
Silver still trapped inside triangle formation, lagging with regard to gold's performance....waiting for a break higher and moving average inversion for bullish entry.
Hard-Brexit and the upper trendline will be broken.
Soft-Brexit and the lower trendline will be hit again but due to strong support at this level I feel it is unlikely to be broken.
Silver’s day end close below the double top neckline level of GBP 14.514/Oz with daily RSI at 40.00 suggests the prices are likely to drop further to GBP 13.74/Oz (June 24 high).
However, 5-day losing streak has left prices oversold on intraday charts, thus a minor rebound from GBP 14.327 (23.6% of Dec low – July high) could result in a brief jump above neckline...
