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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Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.