Silver bullish
Silver has broken out of the negative trend channel - as Gold has it done before.
One big candle out of the channel!
The ascending wedge is showin the potential: up to 14.884$ - where a swing trend line is waiting for resistance.
To confirm a new bullish trend Silver has to break it and then it has also to break the long descending trend line, coming from 2011!
And after having broken this important resistance it could continue to the next resistance level: fib retracement 23.6% at ~15,50$.
The indicators are showing strength and momentum! The Silver price is actually on the EMA-50 niveau.
This is no trading advice.
One big candle out of the channel!
The ascending wedge is showin the potential: up to 14.884$ - where a swing trend line is waiting for resistance.
To confirm a new bullish trend Silver has to break it and then it has also to break the long descending trend line, coming from 2011!
And after having broken this important resistance it could continue to the next resistance level: fib retracement 23.6% at ~15,50$.
The indicators are showing strength and momentum! The Silver price is actually on the EMA-50 niveau.
This is no trading advice.
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confirmed the last analysis - now heading the next resistance as shown in graph
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