We have seen the downtrend in silver form June to September .
In the month of October we saw a clear break out from the downward sloping trendline (T).
Now ,the price may again come for the retest.
So We have short entry for now in silver mini till point "D" (WHICH IS ALSO A 400 D EMA LINE RED)
We can aim from POINT "A" TO "B" FIRST and then POINT "C" TO "D" ...
Can be bought for short term : Target 61545-61645
though long term view is bullish : ACCUMMULATE starting from 58500-49000 levels, if occurs.
Ascending flag pattern
decisively crossing SMA 20,50,100,200 SMA on 30 mins. time frame
One can see in the charts that all levels on daily and weekly timeframes are tested. The white trend line keeps on adjusting as we go while blue is intact, signs of distribution.
once it comes to confluence zone(intersection of 2 trend lines) , perfect short opportunity.
It is a positional trade so we have to be patient.
Aggressive - 51500
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.