Midterm forecast:
While the price is above the support of 1744.50, a resumption of an uptrend is expected.
We make sure when the resistance at 1916.50 breaks.
If the support at 1744.50 is broken, the short-term forecast -resumption of uptrend- will be invalid.
We will close our open trades if the Midterm level 1744.50 is broken.
Technical analysis:
A peak...
The stock has been following the ascending trend of higher highs and higher lows for a few weeks now.
There is a pattern emerging by looking at the chart, which I have divided in 3 phases.
Each phase is preceded by high volume, followed by consolidation. As soon as the price has touched the trendline, we have observed a spurt in volume and price.
If the history...
Multiple reasons to be bullish in Silver at this point of time:
Simple technicals:
1. A pennant formation.
2. Positive reversal where RSI forming lower low while price making higher low suggesting a fresh high can be seen in the instrument.
3. Trading at lower end of the consolidation and higher highs and higher lows formations in smaller time frames.
From...
