Long SSMI at 8,511.00; TP @ 8681.22, SL your choice
A monthly close <9150 will be bearish $SSMI
Hi, traders! Swiss Market Index* INDEX:SSMI formed the bullish wave and appears to be ready for take off to point 6. This potential move is being supported by RSI divergence as well as significant volume at point 5 (unfortunately not available here, but I can see it in my terminal). It is also worth noting that internal structure of the wave is being enhanced...
For some reason, the Swiss index constantly leads silver. No idea why, but it's tradable.
SSMI is in a corrective phase. I'm expecting a possible completion of this expanding structure for a strong move to the downside. A strong breakout of this structure to the upside invalidates the setup.