-Head & Shoulder pattern
-High of $ 30 tested in Feb but could not conquer.
-Black trendline from last Oct could be the last saviour.
Though I doubt that because eGold is also showing signs of short term bearishness.
T A R G E T : $ 19 (Dec 2021)
It has been lacklustre since touching the high of $ 30 a year back. It traded in the 22-30 for a year.
With a decisive break of the 200DMA on Friday at $25.7, it would have given sleepless weekend nights to the Silver Bulls.
The GANN Fan lines and Speed resistance lines are also not signaling any smooth up-move in the near term.
Good sign for sell silver since head and soulders found inside HEAD AND SHOULDERS
I marked in Silver mini, you can duplicate same setup for Silver mic and Silver mega too.
Entry at red line and tgts are in blue line, SL marked as black.
Take entry as per your own analysis and enjoy your profit.
Is it a good time to take a long position in silver?
According to the previous data, it has breaks 2021's support trendline. But the price has bounced off from the 200 moving average. And it's not crossing the 0.886 value of retracement. Hence, at the present silver trading range is between 73222 - 69076 levels.
This week silver may collapse up to 0.786 ( TP:...
The price of the counter XAGUSD is moving downwards in the resistance trend line. Already the counter has been tested thrice at the prices 26.111,25.793 and 25.475. The price is still maintaining below the resistance line and there is no indication for a breakout. The selling mood of the market may drag the price even more downwards. Short is more preferable for...
Silver rallies look like fake and could fall steeply if it fails to rise above $18.5 in near short term. This is the same time some videos were published by Robert Kiyosaki on May 22nd, 2019 where he believes silver will go up. There are many other people propagating the same ideas trying to boost up silver which actually happened but failed to go past $18.5 or...
Silver has been correctly sharply for past 3 days, at the moment (17.46) it is at a make or break level.
If it slides further, it may touch 16.8 followed by 16.2 levels.
Technical indicators are showing weakness at this stage (27-09-19).
Traders taking short positions must exercise caution and keep monitoring charts for trend reversal.
18.04 on the upside...