Peter101

BEWARE OF THE BEARTRAP!!!!

AMEX:SLV   ISHARES SILVER TRUST
78 3 6
DON'T let this down-worth movement fool you.
Look at the positive divergence on the RSI ...

Time to buy...?
sry, i wonder what exactly u mean by bear trap in current heavy downtrend?
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Peter101 look4edge
@look4edge, Downtrend? You can see an enormous cup and handle pattern.
(I think) We are now currently in the handle, forming momentum for a big upwards move. This could, should be... but, there's a big BUT.
The price of silver is MANEGED and therefore you must ask yourself what is the likely outcome of the pattern i see now...
Perhaps the fundamentals in silver are even more important than the charts...shortage is on the way.
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look4edge Peter101
@Peter101, maybe u right, u can observe multidecade cup and handle, however, to me 14 in 2016 was just initial corrective leg and we are in pullback x at best, (leg b down) and 12 at least are in cards before your handle bottoms

trade safe, cheers
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