Using the current contract chart, just to show that previous week doji candle attracted the biggest volume of the last two months, in this possible triple bottoming area.
August and December's 3-4 week rallies, spent twice the time to come back to base, showing a probable selling absorption by the buyers.
Divergence can be seen by a mile away. Same formation obviously exists in XAGUSD and SLV
Risking half or even 1 dollar per unit of position as risk and targeting 24.70-26.20, which is the big resistance/supply area above, make it worth roughly between 1/6 -1/8 R/R
Can it go lower? Of course, 17 and 15 is in the cards, but with a low risk entry pain is limited.
Cheers
Panos
August and December's 3-4 week rallies, spent twice the time to come back to base, showing a probable selling absorption by the buyers.
Divergence can be seen by a mile away. Same formation obviously exists in XAGUSD and SLV
Risking half or even 1 dollar per unit of position as risk and targeting 24.70-26.20, which is the big resistance/supply area above, make it worth roughly between 1/6 -1/8 R/R
Can it go lower? Of course, 17 and 15 is in the cards, but with a low risk entry pain is limited.
Cheers
Panos
