Hello everyone,
Thursday price hit 25 then continued in a bullish direction. Friday we can see that it retraced off 38.2 fib level, and ended the week on a bullish candle.
Take profit 27.1000 QP which is also 100% fib extension. 27.5000 will also be another take profit area.
Confirmation is key. Confirmation equals confidence
My confirmations for the buy move on silver next week ..
1.Overall trend has been bullish - monthly , weekly, daily charts
2.Price hit a strong support area which was around 25.90300
3.Price failed to break that support area. ( #Note : at support you buy and at resistance you sell )
4.Price broke bearish trendline
5.On the daily chart price closed on the 61.8% fib level.
Any more confirmations would be off indicators.
If you agree with my analysis like or comment your input.
Thursday price hit 25 then continued in a bullish direction. Friday we can see that it retraced off 38.2 fib level, and ended the week on a bullish candle.
Take profit 27.1000 QP which is also 100% fib extension. 27.5000 will also be another take profit area.
Confirmation is key. Confirmation equals confidence
My confirmations for the buy move on silver next week ..
1.Overall trend has been bullish - monthly , weekly, daily charts
2.Price hit a strong support area which was around 25.90300
3.Price failed to break that support area. ( #Note : at support you buy and at resistance you sell )
4.Price broke bearish trendline
5.On the daily chart price closed on the 61.8% fib level.
Any more confirmations would be off indicators.
If you agree with my analysis like or comment your input.