Silver Outlook

18 בפבר׳ 2022

Silver is looking very good right now. On the monthly time frame rsi looks very good. It is bouncing on 50 and staying above. This shows a lot of strength. Also we are in an are of support from previous resistance. We are also in the zone where most patterns gain support. In this case we have a W pattern that reached its first target. The .382 retracement. We would then expect a pull back into an area of support. (this is happening) Now we are seeing a buyers fighting the sellers once we have a clear indication that the buyers will win we will look to join them. The next target we have would be 36. This is the second target of the .618 retracement. We will likely see resistance in this area as well.