$Silver – Daily, Monthly
$Silver has a clean break out above the Double Bottom Hump. That gives us a potential target of somewhere around $15.93. A successful retest, if we get one, of the DB hump would confirm the trend line is hot. Go Silver!
The monthly Linear chart looked nasty when $Silver broke below the trend line. IMO its still nasty unless or until the breakdown is negated.
$Silver – Monthly, Linear Chart
Agree Daily looks good Monthly looks bad
Baby Steps
Thanks Silver Fox. The price target on your daily chart looks like it may coincide with the backtest of the trendline from your monthly chart. Just below 16. Spooky!
Yes it does, AAAstocks. Not to get too confident in a new PM bull market, but there are an awful lot of silver short positions out there. Many are now covering their positions or will need to cover in the face of this impulsive rally, thus driving Silver higher.