Silver is showing some technical bullish characteristics on the 6 hr. cycle chart.
- The momentum indicator is breaking above the orange line.
- The price is breaking above the ascending channel.
- The price is breaking above the blue moving average
- The price broke out of the descending trendline from March, 2017
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great charts, so its bullish for the hours. Do you think silver plays out higher by the end of the year?
Trendwizard here... sorry about the delay. Lots of variables I look at, time cycles, Elliott Wave, Fibo, support / resistance, channels ... anyway...... everything all inclusive..... and all things being fractal..... the chart above is a 6 hr chart. The key thing about the chart is the blue line. The support / resistance with the blue line and the momentum in the MACD and how the orange line is in conjunction with the trigger line.
One other thing to remember ...... and it's not in the info above.... The week ended short of resistance on the weekly chart, that's concerning. Anyway I could write a whole book on what I see here and now but don't have the time ......... Thanks for your interest......... cheers.
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