Good day ladies and gentlemen, here I present a mini clip of silver in its natural habitat. I am sure the dragonfly doji off the Monthly draws your attention but let's drop down and see where the market is currently shall we. Since Q2 of 2021 silver has been bearish with the exception of a counter consolidation. Began the week of Aug. 9th, 2021, with a "hang man" candle in which its wick became LL and was respected until price made a triple top toward the end of Q1 this year, beginning of Q2 descending past 22.20-.18 all the way to about 21.10-.00 using that 22.20 zone as newfound resistance dropping further onto a previous resistance to the left of about 18.50-.70 now using it as support. This is only off the Weekly okay for stronger projection and confidence into this specific market. Back to business, now were here at the support and we see an impulsive morning star or engulfing shooting right back up to 20.35 and extending out to about 20.80, a previous support/ LL broken to the left. Finally, we drop down to the Daily and see a double top (line chart) and a bearish engulfing. Price seems to be respecting resistance @ 20.672 price area. Down to the 4H I see a structure break of 20.269 which I told my girl this was dropping most likely. Price can drop right from where its at @ 20.14 or push back up to about 20.28-.30 form a better drop. Not the most trending market but opportunities are definitely developing. Price decides to push back up past 20.40 I'd plead no contest and leave it alone for now. Be ready for your blessings. Happy Trading!
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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.