I can't help but wonder if this chart is telling us something?!? It's been a slow grind down, but this positive divergence on the RSI leads me to believe something is about to happen one way or another. As I've said before, nothing happens here without a massive pop in the spot silver price.
STAY TUNED!
Side note: Likely nothing to read too much into; but I...
I believe we are on the cusp of a major decision. Retesting the descending trendline has potentially created a strong bull flag. If it bounces above 30 cents I think $1.00 is inevitable and the setup for the 5th elliot impulse wave is strong. Of course, a huge rise in the silver spot price is a must for this to be possible.
We are getting a double retest of December's breakout point. Assuming OTC:KLSVF does not lose support, we are expecting much HIGHER prices in the weeks ahead.
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Klondike Silver has retraced 61.8% of entire move off March lows.
Still above inclining 1&3 year simple moving averages and HUGE volume defined base.
$ks.v #sitfolio #silversqueeze #silver #fintwit
Interesting technical situation on 4h Chart.
After rapide first move, prices a pending in a wide range.
But - it seems, that old buyers are convinced, that more potential is in it.
OBV looks very good, but it seems that a many speculants are in it.
So - be aware of prices below 0.10 CAD - maybe better to wait for clear break out upwards,
have a good...
More arcs showing the downtrend slowing down.. basing.. and up trend resumption! Add to that the monthly chart weight, and you got a potential, higher probability move baked in! 0.58$ target, now less than 0.09$. $KS.v #gold #silver $slv $gld #fintwit $sil $silj $gdx $gdxj
