Happy New Year: Silver
Just a quick note with Silver, monthly chart.
As with Gold, we have the same rounded bottom formation. We also have a break of a longterm down trendline, which is now acting as support.
We should at least expect a test of the 18-19 area. However, 19 presents potent resistance. Breaking and closing above 19 on a monthly basis could shift the whole structure, and a run to the 25 area becomes possible.
I do not have a position Silver. Yet. in a bullish environment, Silver possible presents the cleanest trading opportunity - IF we can just get beyond 19. If 19 proves too difficult, we return to more consolidation for Silver, and will review the situation then.
As with Gold, we have the same rounded bottom formation. We also have a break of a longterm down trendline, which is now acting as support.
We should at least expect a test of the 18-19 area. However, 19 presents potent resistance. Breaking and closing above 19 on a monthly basis could shift the whole structure, and a run to the 25 area becomes possible.
I do not have a position Silver. Yet. in a bullish environment, Silver possible presents the cleanest trading opportunity - IF we can just get beyond 19. If 19 proves too difficult, we return to more consolidation for Silver, and will review the situation then.
כתב ויתור
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