Hi traders:
I briefly went over Silver in the my latest Commodity Outlook video on a bullish mid-long term outlook.
While short term wise, I do see the potential sell from a bearish price action on the lower time frame.
We can see price is currently in this large, higher time frame parallel channel correction, correcting the previous strong impulse move from after Covid.
To complete the higher time frame correction, one more swing lows is necessary to have at least 2 swing highs and lows.
The latest price on the lower time frame show us an ascending channel follow buy a bearish impulse down.
Lastly price is already forming that continuation correction,
so wait for correction to finish and look for short term sell to the bottom of the structure,
and be on the look out for the long term buys.
I briefly went over Silver in the my latest Commodity Outlook video on a bullish mid-long term outlook.
While short term wise, I do see the potential sell from a bearish price action on the lower time frame.
We can see price is currently in this large, higher time frame parallel channel correction, correcting the previous strong impulse move from after Covid.
To complete the higher time frame correction, one more swing lows is necessary to have at least 2 swing highs and lows.
The latest price on the lower time frame show us an ascending channel follow buy a bearish impulse down.
Lastly price is already forming that continuation correction,
so wait for correction to finish and look for short term sell to the bottom of the structure,
and be on the look out for the long term buys.
Note
Note
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Related publications
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.