POV: Silver - At the Crossroads of Bullish and Bearish

2024年12月31日

POV: Silver - At the Crossroads of Bullish and Bearish

Silver is currently at a conjunction level where both bullish and bearish signs are present. However, stronger signals lean bearish, and my view aligns with that.

Key Observations:

1️⃣ Complex Head and Shoulders Pattern:

A Head and Shoulders pattern is forming inside the shoulder of another larger Head and Shoulders pattern.

2️⃣ Fibonacci Levels:

The base of both Head and Shoulders patterns aligns with Fibonacci levels of 0.5–0.618.

3️⃣ Target Alignment:

Targets for both patterns converge at the same level, adding weight to the bearish outlook.

4️⃣ Shoulder Target:

The target for the smaller shoulder aligns with Fib levels of 0.764–0.786.

5️⃣ Weekly Divergence:

The higher head and previous swing in the weekly timeframe show divergence.

6️⃣ RSI (14):

SMA(RSI (14),20) falling below 50, signalling weakening momentum.

7️⃣ 200 SMA Breach:

Yesterday’s close fell below the 200 SMA, a critical bearish indicator.

Disclaimer:
For educational purposes only, not financial advice.

1月8日

註釋

Long Entry triggered, but I will give time to this week closed for positional trade for 96K