Silver long term view

May 19, 2022

Silver is yet to confirm it's breakout from the 6 year bullish wedge accumulation after breaking out in 2020.

Since then we've seen consolidation in the range between 20 - 30.

Short term target of 36 after confirmation using the fib extension, but this, as we all know has the potential to go miles above that.

A classic double bottom to wrap it all up I'm sure would take place as shown on the chart.

All the best.

Cheers,
Sky

Jul 14, 2022

Trade active

Nearing the breakout descending wedge - area to pay close attention to.

Recession woes may take this further down, but look for a strong reaction around that 0.618 fix extension.

Apr 5, 2023

Trade active

It it breaking out of the descending rectangle

May 17

Trade active

At the top of the resistance now - once that is broken with a good follow through we can expect this to fly.

Oct 8

Trade active

Getting closer to the target, but a lot of bearish divergencies on hourlies, dailies and weeklies

Oct 21

Note

I suspect a deep correction soon come.

As well as that, I expect the stock markets to carry out a sharp correction too in the next 2/3 months.

Oct 24

Trade active

As advised 3 days ago, a deep correction is over the horizon. First sign over the past 2 days.

This will continue.

Oct 25

Trade closed manually

I'd be taking profits here. See my new post on Gold.