TheRealPeaches
Long

Happy New Year: Silver

FX_IDC:XAGUSD   Silver/U.S. Dollar
Just a quick note with Silver             , monthly chart.

As with Gold             , we have the same rounded bottom formation. We also have a break of a longterm down trendline , which is now acting as support.

We should at least expect a test of the 18-19 area. However, 19 presents potent resistance. Breaking and closing above 19 on a monthly basis could shift the whole structure, and a run to the 25 area becomes possible.

I do not have a position Silver             . Yet. in a bullish environment, Silver             possible presents the cleanest trading opportunity - IF we can just get beyond 19. If 19 proves too difficult, we return to more consolidation for Silver             , and will review the situation then.
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