SILVER

Hello & welcome to this analysis

Since May 2024, Silver (Comex) has surpassed $32.5 only once and failed on 4 attempts (including Fri - 14th Feb). Silver (MCX) has surpassed 96500 only once and failed on 3 attempts (one less due to $:INR impact).

Is this setup a complex H&S in the making (multiple shoulders)? I have my doubts on that because the weekly and monthly patterns are of a cup and handle formation with the latter in the process of currently shuffling out weak hands.

A daily close above 32.50 / 96500 would lead to a strong rally. Strong support now at $31 / 93500

Medium to long term view bullish, short term volatile - waiting for breakout

Regards