Silver about to breakout?Silver chart looks very interesting. With Macro situation as it is. Flight to Silver as a risk off?
Long
Dow Jones Commodity Silver
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SILVER BULLS BREAKOUTThis silver index chart reveals a bullish breakout from a falling wedge with a target of 308.
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Silver is starting to tarnish a bit Looking at this silver index chart through the lens of Williams %R and USGears Tops and Bottoms silver appears to be topping.
Silver Unconfirmed Double BottomHighlighted are high and low pivots in price. These pivots are often accompanied with consolidation of Williams %Rs in oversold and overbought conditions. Trades may be triggered with moves of %Rs out of extremes. Recently, W%Rs consolidated in an oversold condition. This consolidation coincided with a potential double bottom . The next likely pivot high may follow %Rs exiting a overbought condition after consolidating. Also highlighted are possible median lines for the next pivot high. . With a move to the upper MLH, this double bottom may be confirmed.
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