Just an observation...
My job it's to manage risk and keep gains.
Positive note first... The two pink arrows are different. 2021 had a red candle and a weaker bounce from the 60 on the RSI... As opposed to a Green candle and a strong RSI bounce at the 60.
Negative is there is MACRO bearish divergence (PINK LINES) which is not to be confused with a bear market coming but a DIP...
There is also the same weekly bearish divergence (WHITE LINES) found in the recent 21 weeks in comparison to the previous 25 week pattern in 2021.
AND there is a double bearish divergence found in the 2024 price action denoted in ORANGE LINES.
The projected blue bar pattern pulled from 2021-2024 PA is an idea of what "COULD" happen from this area. Which lines up with previous resistance turning into support of which I kept expecting to retest but never did.
I almost hope it does.
WHY? Because if silver goes straight to $100.
That means depression IMHO...
I hope we just go sideways in a way. This everything bubble scenario is pretty scary.
Time will tell the tale.
Positive note first... The two pink arrows are different. 2021 had a red candle and a weaker bounce from the 60 on the RSI... As opposed to a Green candle and a strong RSI bounce at the 60.
Negative is there is MACRO bearish divergence (PINK LINES) which is not to be confused with a bear market coming but a DIP...
There is also the same weekly bearish divergence (WHITE LINES) found in the recent 21 weeks in comparison to the previous 25 week pattern in 2021.
AND there is a double bearish divergence found in the 2024 price action denoted in ORANGE LINES.
The projected blue bar pattern pulled from 2021-2024 PA is an idea of what "COULD" happen from this area. Which lines up with previous resistance turning into support of which I kept expecting to retest but never did.
I almost hope it does.
WHY? Because if silver goes straight to $100.
That means depression IMHO...
I hope we just go sideways in a way. This everything bubble scenario is pretty scary.
Time will tell the tale.
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