SILVER LINING ahead.

2024年4月7日

Hi, 1PERCENT here.

Silver head a "huge" weekly candle close this week with +10% which is a pretty big move for such an asset.

It broke through a resistance zone that it was unable to break since it lost the price zone in July 2021.

Now that it broke the descending trendline that started in 2011(!) & that 3 year resistance zone, I believe we are going to have some really big moves.

In a TA perspective, it would be healthier for SILVER to re-test that previous resistance zone turned support and then, continue upwards.

One possibility of this happening is the next scenario:
1) Goes up short-term until the Blue range highs $28.65, which also is a Yearly supply zone,
2) Rejection & re-test the recently broken Green zone, maybe a wick into the Blue mid-range $25.28
3) Continuation upwards, re-challenging the Yearly Supply.

However, it could also go like this:


When Silver goes, she goes hard.

2024年4月8日

註釋

She is going hard but market is getting too excited right now.

Wick over the blue range high & rejection would be healthy.

2024年5月1日

註釋

Well who would've guessed?