A lot going on the 10-day chart below that makes me bearish for the near term, including:
1) Bearish rising wedge. These formations rarely breakout to the upside, so keep an eye on it as a breakdown will almost certainly mean the target mentioned in the title.
2) Regular Bearish Divergence. Price action prints higher highs as both RSI and Stochastic RSI prints lower highs. Do not ignore.
Long term bullish investors should do nothing, silver is a good hold for the years ahead. If you’re a swing trader, this seems like a no brainer. Risk of downside surpasses probability of continued upside following a 100% gain.
Is there a bullish outlook? Yes. RSI remains 50+. Anything up here on the 10-day is bullish. So how we reconcile this information with the above? Looking at RSI a little more closely one can see the lower highs printed are projecting resistance until March 2022 before the 50 level is tested again. Until then.
Trade is void if price action closes a 10-day candle at $28
1) Bearish rising wedge. These formations rarely breakout to the upside, so keep an eye on it as a breakdown will almost certainly mean the target mentioned in the title.
2) Regular Bearish Divergence. Price action prints higher highs as both RSI and Stochastic RSI prints lower highs. Do not ignore.
Long term bullish investors should do nothing, silver is a good hold for the years ahead. If you’re a swing trader, this seems like a no brainer. Risk of downside surpasses probability of continued upside following a 100% gain.
Is there a bullish outlook? Yes. RSI remains 50+. Anything up here on the 10-day is bullish. So how we reconcile this information with the above? Looking at RSI a little more closely one can see the lower highs printed are projecting resistance until March 2022 before the 50 level is tested again. Until then.
Trade is void if price action closes a 10-day candle at $28
Transaction en cours:
A very impressive breakout. 1st target is expected to hold however nothing is certain. If it fails look at $16 area.
Transaction en cours:
Freefall modus
Transaction en cours:
Price actions breaks through the annual EMA (green line). Bulls needs to take this EMA as support before August 27th. Failure to do so will be very bearish in the short term.
Transaction en cours:
15% correction so far. Watch $21, if it fails then it is straight to $18.
Trade fermée: cible de profit atteinte:
Now 18% correction and showing no signs of stopping. Bulls must defend $21. As mentioned above, $21 fails to hold it is straight to $18.
Commentaire:
Price action failed to hold the 500-day EMA as support, a historically important EMA for silver. $18 is now high probability.
Commentaire:
I’m sorry silver bugs, more bad news… With recent confirmation of price action and RSI resistance the downtrend is now projected to last for at least another year.
Commentaire:
Silver moved up too fast too quickly, take a cheeky swing trade back down to support...
BTC
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Weblink: www.patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
