For further details about Flags: Upward breakout 60% of the time (Bulkowki research below). thepatternsite.com
As we can see Silver has made a very bullish impulse move up to a major previously tested resistance zone forming a triple top and is also a confluence with the downtrend line as marked. The bullish impulse move is loosing momentum as seen on market cipher so expect a possible red dot formed on the indicator, if this is formed then expect a large move down...
Similar pattern to March 2020 Copy Fractals points to $48 April 2021 We have the price edging the base of the Regression with the Stochastic RSI and MACD upward. All I personally need for this for a confirmed buy is a close above 20MA or the 10EMA crossing 20EMA
Silver (AUD)- Daily chart. Likely respect 50% retracement.
Silver (AUD) - Symmetrical triangle consolidation.
Silver (AUD)- Symmetrical Triangle on the daily chart. Breakout soon.
Silver (AUD) Breakout from Symmetrical triangle.
Increase in the price of silver (AG) has risen AUD$4.09 from its low on 24 September 2020. Subsequent peaks and troughs through 17 October have remained within a 24° band. Extrapolating this sees a further increase through November with resistance at AUD$36.70 and then at AUD$37.88. The price could still go up beyond that. How far that goes I'm not sure. Several...
Silver (AUD)- Hourly chart, nice Uptrend.
Some bulls are there -it needs monitoring, and if price breaks above the dsl line then the set-up will be invalid. Bearish interests.
Silver (AUD)- Monthly chart. Potentially forming a Double bottom . Note over head resistance (yellow line)- 4 failed previous attempts. Yellow line also coincides with 38.2% Fib retracement from the 2011 highs. So a very important line to break to complete Double bottom .
Silver (AUD)- Monthly chart. Potentially forming a Double bottom. Note over head resistance (yellow line)- 4 failed previous attempts. Yellow line also coincides with 38.2% Fib retracement from the 2011 highs. So a very important line to break to complete Double bottom.
Watch the yellow box I have here for another restest and see what happens. I am predicting an expanding flat , that is almost complete in this zone (we love trading the END of corrections) for more downside. At least equal bottom, more could come though.
This clearly looks like the 5th wave down, so I always set TP to the equal bottom with the last move for upmost safety. That red line you see is a daily price action structure line, so for sure going to see some interaction down there again.