If silver cannot break out of this bear flag to the upside, $25 seems likely leaving the people who bought in the #silversqueeze trapped, if trapped sellers rush to the exit and sell, price can waterfall down to $22-19 making it a great buy area to go long.
For a valid breakout, we should re-test the gap and it should act as support, in this example it has failed. For bulls to take control they need to break out of this bear-flag and quickly recover $30.
With the dollar rallying along with UST10 year, lower seems the path of least resistance for now.
For a valid breakout, we should re-test the gap and it should act as support, in this example it has failed. For bulls to take control they need to break out of this bear-flag and quickly recover $30.
With the dollar rallying along with UST10 year, lower seems the path of least resistance for now.