Silver is moving in a big trend channel. As shown in the picture, the price keeps bouncing off the edges. Only a breakout from the channel can lead to a trend movement in the larger time frame. So caution is advised at the edges. This analysis is constantly updated in the smaller time frame.
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gap closed
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See a breakout comin wich causes silver price to drop to at least to 25USD!
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We are going slowly to the upper channel resistance. At this point we have to reevaluate the situation. There is potential for another leg to the lower trendchanel in regars to the DXY. If the DXY finds no support at its current point a silver breakout out of the channel is immanent.
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The movement has been sideways. We testet the support 3 times. A break of these zone will bring us down. It can bring us down to the marked zone in my previous analysis.
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I will place a stop buy order at 26.30 USD.
I will place a stop buy order at 26.30 USD.
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In case of a breakout from the triangle, a rise to the top of the channel is the target.