Silver is putting wedge resistance & 200 daily MA under pressure, after posting 3 consecutive higher lows.
Looking for a breakout to the upside as it has finished A-B-C (5-3-5) wave II from February.
Ultimately expecting to resume the underlying uptrend from November 2018 and to reach 16.83 target at least.
Looking for a breakout to the upside as it has finished A-B-C (5-3-5) wave II from February.
Ultimately expecting to resume the underlying uptrend from November 2018 and to reach 16.83 target at least.
Trade closed manually
Seems like failed breakout for nowNote
As a battle between gold buyers and sellers continue, silver depreciates in value still living the room for bullish scenarioNote
Another reactive activity at the lower end of the range got absorbed by sellers at the trendline from March 25. The tension is rising. Another false breakout is possible before establishing the direction of the next order move. Watch for confirmations.Note
*leaving the room for bullish scenario
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Disclaimer
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.