Of course, with inflation climbing steadily.
Metals have shown in the past that they come out strong when that happens.
Do really think it is a good place for silver to scale in.
Same for gold really soon.
12H Divergence also forming at these lows for silver.
Previous 12H divs for silver did an +- 20% bounce from the lows.
Price moved strong so far, tested the OB's before once or not even at all.
Healthy pullback when it reached 0.618 fib , green OB catched it, will it hold ?
Also spotted this channel, a break will mean some nice price movement.
Happy trading ! :)
Legend OB's:
Blue OB Weekly
Black OB 2-4H
Red OB Daily
Green OB - The import one in this chart
Very clean descending channel in a descending traingle.
This looks so bullish to me.
We had a clean bounce on that bottom trend line.
We had a bounce on that order block.
But also we had a bounce at the 0.618 (max retracement zone)
As you can see in the chart.
Maybe we can go 1 leg down.. I don't quite believe in it myself but I would never rule it out.
But...
Chart speaks for it self
You can take an position right now ( sl 6780 -6800
You can take an postion at the top of the channel ( sl slightly above ( scenario 2
Or you can take an position at the bottem of the triangle ( a flexible sl
To take an position at the top of traingle will be hard, but you never know these crazy markets :')
The chart speaks for it self !
I will take a short position at the top of the triangle.
Stoploss slightly above it.
Target around 6k, previous low.
I will keep u guys updated.
