Silver Weekly Chart Forming Inverse Head and Shoulders
The red outlines the inverse head and shoulders in the silver futures weekly chart. The dotted line is the neckline. The oval represents where, if silver can CLOSE a weekly candle above the area near $26, the pattern will be triggered. With perhaps a 70% or higher success rate, the probability would be that silver would run up to a measured move from the inverse head around $18 to the neckline around $26. The difference is $8, adding that to the $26 equals the target of $34, which could easily overrun to maybe $36.
(PS, often once the neckline is breached, the price will pull back to the neckline again before heading higher.)
(PS, often once the neckline is breached, the price will pull back to the neckline again before heading higher.)
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