Silver appears to be triggering an inverse head & shoulders

One of the bigger green candlesticks we’ve seen on the daily chart for silver in awhile…would not be surprised if this breakout takes us to the $22 measured move target. The 1day 200 ma(in blue) will be waiting in that zone to likely provide resistance. *Not financial advice*

Comment:

Silver didnt reach its full target before dipping back below the neckline. Still a chance it could break above the neckline and hit an adjusted breakout target though.

Comment:

Silver did a head fake its first time above the neckline as many inv h&s patterns tend to do upon first penetration. It has now been solidly back above the neckline for a good many candle closes and retested the support multiple times though so confirmation of the breakout in the near future is likely….just have to move the measured move line down tot he spot of the 2nd penetration for the adjusted slightly lower target.

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Target Hit! Back on November 13th.