Silver shaping for bullish move?
Updated
Hi guys,
Silver has consolidated after digesting gains from its last run up.
Price has formed a double bottom on daily chart at precisely the 61.8 fib level from its most recent high to daily support.
The right hand side of the double bottom is now looking like an inverse head and shoulders pattern on 4hr or 1 hour time frame with a break of the neckline. Price is currently retesting the neckline level where buy setups may appear on lower time frames.
Safe Trading all
Silver has consolidated after digesting gains from its last run up.
Price has formed a double bottom on daily chart at precisely the 61.8 fib level from its most recent high to daily support.
The right hand side of the double bottom is now looking like an inverse head and shoulders pattern on 4hr or 1 hour time frame with a break of the neckline. Price is currently retesting the neckline level where buy setups may appear on lower time frames.
Safe Trading all
Trade active
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