When is a good time to buy silver? #SLV Confirmation?
Looking at silver over 2021 we have a couple trend lines that have been holding up as support and we are currently looking at retesting one just before we enter what i would consider a buy zone.
The bold trend line coming down has been tested twice and we are forming a symmetrical triangle.
As we see upward pressure from the 2 longer term support trends, we will be testing it again in the 22.42 area.
Id like to see price action above 22.34 and back above the trend line that is acting as resistance currently.
A precursor to this could be pressure from the lowermost upward trend as we move into the downward trend again.
The bold trend line coming down has been tested twice and we are forming a symmetrical triangle.
As we see upward pressure from the 2 longer term support trends, we will be testing it again in the 22.42 area.
Id like to see price action above 22.34 and back above the trend line that is acting as resistance currently.
A precursor to this could be pressure from the lowermost upward trend as we move into the downward trend again.