SILVERSilver appears to be putting in a bottom right along the median line and lower parallel of two separate Pitchforks. (Larger Shot of both forks below)
Momentum showing some serious bullish divergence.
Not Shown MACD & RSI - Also showing solid bullish divergence.
Pending a breakout, I would expect that Silver rallies up the arc formation towards the energy point. (Lightning Bolt)
Energy Point = Median Line and/or MLH intersection, this one takes place at approximately $28.50 in late February 2023.
I've set two target areas as potential take profit levels.
T1 = 0.618 Fibonacci Retracement Level = $23.36
T2 = The U-MLH of the purple fork/Energy Point = $27 - $28.50
Let's see what happens.
Fat_Fat
Note
Forks + Energy Point
Note
(MACD + RSI) Bull Div
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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.