Silver: Monthly uptrend update
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Traders, we have a very strong uptrend in monthly Silver. You can refer to my previous long term trade idea for more information. It appears we'll test the 25 low volume resistance level, we just have to maintain this pace and break the 13 month level above.
The downtrend mode is the 14 month level labeled above the 25 handle, and I anticipate it might be hit in time, but it's a very long term trade. Before hitting that we will see many daily uptrends and downtrends, and maybe even a weekly or monthly consolidation, so, it'd be paramount to own physical silver and wait for it patiently. If you have paper longs from when I posted my setup, you may hold the trade and let it run. I'll update this chart from here onwards, based on the price action in the coming months.
Check out my updated track record here: pastebin.com/6CyyqnPT
If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers!
Ivan Labrie
Link to Tim West's chatroom: tradingview.com/chat/
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance0.59% on such information.
The downtrend mode is the 14 month level labeled above the 25 handle, and I anticipate it might be hit in time, but it's a very long term trade. Before hitting that we will see many daily uptrends and downtrends, and maybe even a weekly or monthly consolidation, so, it'd be paramount to own physical silver and wait for it patiently. If you have paper longs from when I posted my setup, you may hold the trade and let it run. I'll update this chart from here onwards, based on the price action in the coming months.
Check out my updated track record here: pastebin.com/6CyyqnPT
If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers!
Ivan Labrie
Link to Tim West's chatroom: tradingview.com/chat/
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance0.59% on such information.
Nota
Update: Silver has broken the first resistance above and has cleared the way to reach the 25-26 zone soon.Nota
Need to see if we break the monthly resistance, then we could see significant upside.
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