However you draw it, silver looks like it wants to break out of this corrective triangle (orange) or channel (blue).
Technical bias is long, with daily and now 4H EMAs in the right order, and green trends on both timeframes.
Fundamental bias is long, with gold getting a lot of attention as a risk-off asset, and silver riding along.
Confirmation would be a 4H close above the previous high at 17.64. A sensible stop might be under the previous resistance, now support, around 17.2.
Targets might be previous resistance around 18.6, 20.3.
Disclaimer: I could be wrong. This isn't advice. Drink responsibly.
Indicators used: TradingView Exponential Moving Averages 8,21; Price Action Trend Overlay | Simple
Technical bias is long, with daily and now 4H EMAs in the right order, and green trends on both timeframes.
Fundamental bias is long, with gold getting a lot of attention as a risk-off asset, and silver riding along.
Confirmation would be a 4H close above the previous high at 17.64. A sensible stop might be under the previous resistance, now support, around 17.2.
Targets might be previous resistance around 18.6, 20.3.
Disclaimer: I could be wrong. This isn't advice. Drink responsibly.
Indicators used: TradingView Exponential Moving Averages 8,21; Price Action Trend Overlay | Simple
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