SILVER: Flag formation above 14$
Hi Guys,
in 2016 Silver made a bottom at 14$. At the end of 2018 it made another bottom at 14$.
In 2016 price pulled back right into the 1000SMA. In 2018 Silver pulled back too but price have not touched yet the 1000SMA.
In view of the above IMHO there is no need to enter the market at this stage. First need to build support above the pink 0.618 Fibo. When and if support is confirmed I expect some long green candlesticks to unfold above 15.5$ towards 1000SMA.
But for the time being need to wait and think why silver should go up to $16 instead of keep falling towards $14.
Thank you for your support and for sharing your ideas.
Don't forget to put a like if you appreciate the post and to follow me if you want to receive notifications on new and updated ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
in 2016 Silver made a bottom at 14$. At the end of 2018 it made another bottom at 14$.
In 2016 price pulled back right into the 1000SMA. In 2018 Silver pulled back too but price have not touched yet the 1000SMA.
In view of the above IMHO there is no need to enter the market at this stage. First need to build support above the pink 0.618 Fibo. When and if support is confirmed I expect some long green candlesticks to unfold above 15.5$ towards 1000SMA.
But for the time being need to wait and think why silver should go up to $16 instead of keep falling towards $14.
Thank you for your support and for sharing your ideas.
Don't forget to put a like if you appreciate the post and to follow me if you want to receive notifications on new and updated ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
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