Silver forming a C & H, entry around $32-33 hopefully there will be a pullback
Trade active
We're at a fib inflection point, and also at the top of the channel with some bearish divergence. 2 Scenarios:
1. Short squeeze all the way up (via ETF leverage) and completely erase that divergence, if the RSI goes above 86. Seeing as to how people are calling for $32-33 it's seeming more likely than before.
2. Trap buyers and head down to $32.
Personally, I am DCAing slowly, if it breaks below $29.40 I expect to be waiting many years for it to reach this price again
Trade closed: target reached
Silver is holding above the trend line, it may run to the next level of $41 in the next 2 weeks or so
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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.