Loading ...If last week’s candle in silver turns out to be a headfake….
it worked, to the extent I had abandoned my thesis for a run to $60+ silver to begin imminently. I did not make any trades though, as the long term bull is still more than intact.
Silver still has a huge wall it has to climb in the near term, and even if last week was just a headfake, I am now inclined to think silver will be range bound until later this year–i.e., the highs and lows have been set for the next several months. But you never know.
My friend Sam posted the beginnings of a triangle count last Friday. (sharp rebound next)
I was skeptical. And I was even THINKING of challenging him on it.
But he knows what he’s doing, so I said to myself, give it a few days.
Sure enough, here we are.
So yes, perhaps range bound for a time.
I’ll give heads up when he believes that pattern is set to resolve.