In my last post on Silver I wrote that caution was required.
Now we are printing a bullish engulfing for the week - the week isn't over, but if this holds, it portends further upside.
The broadening formation over the last few weeks is bullish.
The weekly Stoch/RSI is in overbought territory, so perhaps some further grinding might be required to create some bullish divergence.
I have a low leverage long, with a stop below the weekly low. If you're flat, I recommend the same if you want to buy and you can find a good entry.
Holding the low of the week would keep Silver constructive. To really get bullish we would need to see trendlines broken to the upside. My strategy, with an intact long bias, will be to buy throwbacks off from those trendlines.
Now we are printing a bullish engulfing for the week - the week isn't over, but if this holds, it portends further upside.
The broadening formation over the last few weeks is bullish.
The weekly Stoch/RSI is in overbought territory, so perhaps some further grinding might be required to create some bullish divergence.
I have a low leverage long, with a stop below the weekly low. If you're flat, I recommend the same if you want to buy and you can find a good entry.
Holding the low of the week would keep Silver constructive. To really get bullish we would need to see trendlines broken to the upside. My strategy, with an intact long bias, will be to buy throwbacks off from those trendlines.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.