Silver on the daily time frame is now at the lower range and looks ready for a bounce back up.
As you can see the shape of the range is a bullish wedge. Meaning: a high chance to break to upper range and continue in an upwards trend.
How ever as you can see theres still a bit of space left. My prediction is that after going to the upper range, there will be 1 more wave down to the lower range before a bounce that will break the upper range and lead to a new trend up to 18.400.
Trading advice: Buy The Dips
SL: 15.200, take small buy positions and be ready/able to add more buys every 0.400 dip or 0.200 increase
TP: 17.800-18.400
As you can see the shape of the range is a bullish wedge. Meaning: a high chance to break to upper range and continue in an upwards trend.
How ever as you can see theres still a bit of space left. My prediction is that after going to the upper range, there will be 1 more wave down to the lower range before a bounce that will break the upper range and lead to a new trend up to 18.400.
Trading advice: Buy The Dips
SL: 15.200, take small buy positions and be ready/able to add more buys every 0.400 dip or 0.200 increase
TP: 17.800-18.400
Trade active
Candle still didnt close outisde the range so it hasnt been broken. Though that flash crash llast night ruined a lot of buy positions
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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.