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
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.
Same reason as other Silver trade setups previously posted
Looking bullish. If GBP rallies at the same time, silver could go straight up for a while.
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’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...