Looks like the bearish breakdown failed and it´s time for the bulls. Will wait for a pullback before looking for a trade. If it can pull back to support and bounce off of 10 SMA or 30 EMA it looks bullish.
Looks bullish if SIRI can pop above this triangle formation, down at major support and accumulating in a tighter range. Keep an alert around 4.25 for a bullish move. That would give a 2:1 RR before filling the bearish gap.
Despite the dollar going up we saw some major moves on a lot of metals (including GLD) this friday and we ended the week with 9 pennys away from a tweezer bottom on the weekly
I´m right now waiting to see what the dollar might do in the near term future before entering any longer term trades but my trading plan ...
SLV has made a very bullish gap off of support, in the low of this channel.... missed this move but my trading plan is to only be in short term (1-5 days) on precious metals right now since the dollar is on the move up.
I´m long term bullish on silver after the bullish break out of this falling wedge
My plan is to wait for a pullback off of 10.21 resistance in to 9.79 pivot, CCI needs to be above 100 when we pull back. A quick wave count could be a third wave right now and then we´ll probably break above the resistance with a wave 4 as retest...