After the last breakout of the negative trend channel (bull trap) Silver fell quickly back in to the trend channel but rebounced on the long descending trend line (coming from 2011).
This is a very important support zone and it held.
With much momentum Silver regained the next resistance at 16,40$ (swing trend line) and continues actually to the second resistance at 16,59$ (fib retracement).
But the breaking would not be sufficient to generate a really good buy opportunity. Therefore it had to cross the upper limit of the trend channel (as last time).
In that case Silver could rise to the last high at 17.10$ (swing trend line). As this line had been a strong resistance it needs a lot of momentum to break it to the top. Silver could then rise up to the falling trend line (dotted) - coming from nov 2016 (3 descending peaks).
One can carefully take profit at the blue zone.
A really, really big signal would be the crossing of this trend line - but we´ll shall not await too much.
Stop:
in any case the Silverprice falls back under the support - lines and even worse in the case it breaks the trend-channel to the bottom
This is a very important support zone and it held.
With much momentum Silver regained the next resistance at 16,40$ (swing trend line) and continues actually to the second resistance at 16,59$ (fib retracement).
But the breaking would not be sufficient to generate a really good buy opportunity. Therefore it had to cross the upper limit of the trend channel (as last time).
In that case Silver could rise to the last high at 17.10$ (swing trend line). As this line had been a strong resistance it needs a lot of momentum to break it to the top. Silver could then rise up to the falling trend line (dotted) - coming from nov 2016 (3 descending peaks).
One can carefully take profit at the blue zone.
A really, really big signal would be the crossing of this trend line - but we´ll shall not await too much.
Stop:
in any case the Silverprice falls back under the support - lines and even worse in the case it breaks the trend-channel to the bottom
注释
注释
Silver reached the upper limit of the trend channel. This is profit take zone for those who invested on the lower side.RSI is still positive, ADX also. But will it be enough dynamic to break through the resistance?
If the support (fib retracement 38,2% ) maintains then a further rise is very possible. If not, Silver will turn back into the middle of the trend channel, where the next support at ~ 16.41$ is a swing trend line.
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