Chart above shows price of HL (silver mining company) and below shows silver futures. HL price is landing on a very strong support area. And silver futures just made a nice bounce off the monthly support. Looks like silver (and gold) is forming a huge inverse HS. It may take a few more weeks to build up and break out. Also HL is trading at 4 dollars, a psychological price. If you enter now your risk is very low (SL 3.8) but the regard can be great at least to $6. I'm long here and I may add If I see buyers activity.
Note
I just saw that the snip of silver futures is overlaying the HL chart, sorry about that: Here is a better view of HL chart:Note
Worked pretty well:Trade active
Is accumulation to break up. silver still strong, so much room to the upside:Trade active
If it breaks the resistance zone is going to test the 5 level. Looks very strong:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.