I would really love to see Silver dropping down to 16.000 or even 15.000 area before it flies!
However the squeeze that is actually going on for the moment is giving us a possible impulse on this correction.
Three possible entries; one if it breaks the small trendline of the current consolidation,
two if it tags the bottom once again, three if you miss both of the previous, once we break the major trendline on the top. In the third case wait for a consolidation after the breakout.
Do not simply buy the breakout. If we don't have a consolidation or a small pullback there is a big chance we still go down.
Your TP should be around previous high at least, 17.500
However the squeeze that is actually going on for the moment is giving us a possible impulse on this correction.
Three possible entries; one if it breaks the small trendline of the current consolidation,
two if it tags the bottom once again, three if you miss both of the previous, once we break the major trendline on the top. In the third case wait for a consolidation after the breakout.
Do not simply buy the breakout. If we don't have a consolidation or a small pullback there is a big chance we still go down.
Your TP should be around previous high at least, 17.500
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