Technical Analysis:
Price is currently forming a rising wedge which could indicate further downside movement for silver, we can also notice a bearish divergence forming on the 1 Hourly. It would easy to mistake this pattern for an ascending triangle.
Stop loss to be set at the 50 MA, which lines up perfectly with the zone of support, and our TP could be set on the resistance levels marked by the red lines on the chart (17.30 & 17.50$)
Cheers and feel free to share your ideas!
Price is currently forming a rising wedge which could indicate further downside movement for silver, we can also notice a bearish divergence forming on the 1 Hourly. It would easy to mistake this pattern for an ascending triangle.
Stop loss to be set at the 50 MA, which lines up perfectly with the zone of support, and our TP could be set on the resistance levels marked by the red lines on the chart (17.30 & 17.50$)
Cheers and feel free to share your ideas!