Few technicals all seem to indicate move up in silver when the coil pops.
(1) RSI divergence seen back to 2013.
(2) Lower trendline remains intact in the weekly RSI reading.
(3) What appears as capitulation in August 2017 that temporarily fell below long term support trendline dating back to early-mid 2000s.
(4) No retest of the lower RSI weekly trendline since January
(5) Descending triangle and symmetrical triangle going back to 2016 and 2015, respectively are coming to an end.
It could retest high 14s before a move up, but based on historical action, I think this move up within the next few months could be a new leg up.
(1) RSI divergence seen back to 2013.
(2) Lower trendline remains intact in the weekly RSI reading.
(3) What appears as capitulation in August 2017 that temporarily fell below long term support trendline dating back to early-mid 2000s.
(4) No retest of the lower RSI weekly trendline since January
(5) Descending triangle and symmetrical triangle going back to 2016 and 2015, respectively are coming to an end.
It could retest high 14s before a move up, but based on historical action, I think this move up within the next few months could be a new leg up.