POV: Silver - At the Crossroads of Bullish and Bearish
Silver is currently at a conjunction level where both bullish and bearish signs are present. However, stronger signals lean bearish, and my view aligns with that.
Key Observations:
1️⃣ Complex Head and Shoulders Pattern:
A Head and Shoulders pattern is forming inside the shoulder of another larger Head and Shoulders pattern.
2️⃣ Fibonacci Levels:
The base of both Head and Shoulders patterns aligns with Fibonacci levels of 0.5–0.618.
3️⃣ Target Alignment:
Targets for both patterns converge at the same level, adding weight to the bearish outlook.
4️⃣ Shoulder Target:
The target for the smaller shoulder aligns with Fib levels of 0.764–0.786.
5️⃣ Weekly Divergence:
The higher head and previous swing in the weekly timeframe show divergence.
6️⃣ RSI (14):
SMA(RSI (14),20) falling below 50, signalling weakening momentum.
7️⃣ 200 SMA Breach:
Yesterday’s close fell below the 200 SMA, a critical bearish indicator.
Disclaimer:
For educational purposes only, not financial advice.
Silver is currently at a conjunction level where both bullish and bearish signs are present. However, stronger signals lean bearish, and my view aligns with that.
Key Observations:
1️⃣ Complex Head and Shoulders Pattern:
A Head and Shoulders pattern is forming inside the shoulder of another larger Head and Shoulders pattern.
2️⃣ Fibonacci Levels:
The base of both Head and Shoulders patterns aligns with Fibonacci levels of 0.5–0.618.
3️⃣ Target Alignment:
Targets for both patterns converge at the same level, adding weight to the bearish outlook.
4️⃣ Shoulder Target:
The target for the smaller shoulder aligns with Fib levels of 0.764–0.786.
5️⃣ Weekly Divergence:
The higher head and previous swing in the weekly timeframe show divergence.
6️⃣ RSI (14):
SMA(RSI (14),20) falling below 50, signalling weakening momentum.
7️⃣ 200 SMA Breach:
Yesterday’s close fell below the 200 SMA, a critical bearish indicator.
Disclaimer:
For educational purposes only, not financial advice.
Nota
Long Entry triggered, but I will give time to this week closed for positional trade for 96K
Blogs : substack.com/@kzatakia
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Blogs : substack.com/@kzatakia
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.