Silver making diamond reversal, BO triangle to confirm wave 3?
Silver now trying to BO the smaller downtrend line & the diamond. It may retrace a little but it needs to
Hold 22 & keep above the WMA 200 ribbon support to be bullish.
If it finally BO of the big descending triangle, then wave 3 will be confirmed & the next targets of 30 & 50 may be on the table.Unlike gold, silver is not only a store of value but also an industrial necessity which
Will be in high demand if economy recovers.
If the gold/silver ratio peaks out soon, then silver will rally more while gold continues to consolidate between 1760 & 1833.
But if the ratio BO of the longterm consolidation, both will rally.
Not trading advice
Hold 22 & keep above the WMA 200 ribbon support to be bullish.
If it finally BO of the big descending triangle, then wave 3 will be confirmed & the next targets of 30 & 50 may be on the table.Unlike gold, silver is not only a store of value but also an industrial necessity which
Will be in high demand if economy recovers.
If the gold/silver ratio peaks out soon, then silver will rally more while gold continues to consolidate between 1760 & 1833.
But if the ratio BO of the longterm consolidation, both will rally.
Not trading advice
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.