Silver setting up for bullish breakout

١٢ أكتوبر ٢٠١٩

Silver trades similar to gold. If there is severe risk aversion, expect for silver to rally. Price is trading near a previous level of resistance. If it can hold, it will become support. I would like to see price retest 16.86 before continuing higher. It would create a confluence of support. Price has already tested DS twice and it would put price near the apex of the triangle, making it prime for a violent break in either direction. If you plan on trading any precious metals, pay close attention to what is happening in politics. There will be a lot of fed speak next week and chances are they will be addressing QE4. Also, pay attention to trade wars as this will be the main driver for risk sentiment.