Loading ...Our weekly SLV diamond
Diamonds are not forever. (forever is a very, very long time) This old diamond is fraying at the edges. Its tried to break topside three times, but each time the break out was quickly annulled. Its working its way right into the apex. We note SLV is trading below the 30D EMA, and the EMA is sloping down, but the bears have been unable to drive the price below the supporting trend line. Not yet anyway. What’s next for SLV? More blah, blah, blah – or fireworks?
Good point …my take
Patterns like this usually break out about 3/4 of the way to the apex give or take.
when they go right to the apex it tends to mean there is Nothing to push the price one way or the other
so they just meander about listlessly….eventually morphing into something else…i think we are in for more boredom.
I’m short this one. Hoping for a flush down over the next few days.