Looks like we are completing the second right shoulder of this reversal pattern ,
All tops of three completed shoulders so far creating a trend line , that's been crossed by the head, looks likely that the fourth shoulder will touch that trendline as well,
Reverse head and shoulder patterns are as reliable as Head And Shoulder tops patterns, they do take more time to complete though,
Validating the pattern the measure move will send us to test back that previous high at the 18s levels
Also if we have a look on the MACD for Silver, we see reduction on sellers but same time complete absence of buyers which is likely the reason that price dropped bellow that 50 Day moving Average I have marked on the chart with the Green line, Stocks might fall by their own weight when buyers do not come into the market and I think that's what we are experiencing now with the price of Silver.
All tops of three completed shoulders so far creating a trend line , that's been crossed by the head, looks likely that the fourth shoulder will touch that trendline as well,
Reverse head and shoulder patterns are as reliable as Head And Shoulder tops patterns, they do take more time to complete though,
Validating the pattern the measure move will send us to test back that previous high at the 18s levels
Also if we have a look on the MACD for Silver, we see reduction on sellers but same time complete absence of buyers which is likely the reason that price dropped bellow that 50 Day moving Average I have marked on the chart with the Green line, Stocks might fall by their own weight when buyers do not come into the market and I think that's what we are experiencing now with the price of Silver.