Bry777

Silver Weekly Chart Forming Inverse Head and Shoulders

Long
COMEX:SI1!   Futures Argento
The red outlines the inverse head and shoulders in the silver futures weekly chart. The dotted line is the neckline. The oval represents where, if silver can CLOSE a weekly candle above the area near $26, the pattern will be triggered. With perhaps a 70% or higher success rate, the probability would be that silver would run up to a measured move from the inverse head around $18 to the neckline around $26. The difference is $8, adding that to the $26 equals the target of $34, which could easily overrun to maybe $36.
(PS, often once the neckline is breached, the price will pull back to the neckline again before heading higher.)
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