With Silver very bullish I'm keen to buy and am waiting for a suitable opportunity to enter a long position with the intention of holding for several weeks. I am watching four likely scenarios on the 4-hour chart as follows:
A - green dotted line
Price forms a pennant before breaking through resistance at $52.50
1 - green solid line
Price finds support at $48-49 and breaks through resistance at $52.50
2 - blue line
Price drops further but finds support at $44
3 - black line
Price climbs to $52.50 then drops through support at $48-49 and through support at $44 but finds it at $41 where it starts its move higher.
Another scenario might be some combination of #2 and #3.
I am using these ideas as a guide although what actually unfolds might be completely different.
I drew the chart yesterday (Thu 24 Oct) since when price is currently following the blue line.
A - green dotted line
Price forms a pennant before breaking through resistance at $52.50
1 - green solid line
Price finds support at $48-49 and breaks through resistance at $52.50
2 - blue line
Price drops further but finds support at $44
3 - black line
Price climbs to $52.50 then drops through support at $48-49 and through support at $44 but finds it at $41 where it starts its move higher.
Another scenario might be some combination of #2 and #3.
I am using these ideas as a guide although what actually unfolds might be completely different.
I drew the chart yesterday (Thu 24 Oct) since when price is currently following the blue line.
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.