SILVER

23 apr 2022

Silver is still in triangular correction on weekly time frame and now it has weekly closed below RK's stop loss line which is a sign for weak sentiments again also weekly macd is about to turn bearish again so we can assume that after completing wave a-b-c-d- now we are unfolding wave e in triangle pattern, which can be last decline before breakout towards north move ahead, so if our assumptions are going to be true then silver can fall towards price of $ 21.40, before it turns bullish for a long term rally to start, On up side we can assume $ 30.72 as 0.618% of wave 3 as a target of wave 5 of bigger degree.

Overall wave structure and chart pattern


Price closed below weekly RK"s stop loss line


weekly macd down tick


Daily macd turned negative again


Daily rsi down tick and closed below 40 range


DMI _ ADX turned negative


TLBD along with near Lbb to challenge



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I am not sebi registered analyst.
My studies are for educational purpose only.
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