A 1-year bull flag and ascending triangle, backed with strong fundamentals for industrial use, inflation hedge, and short squeeze potential. A breakout above $30 should extend to the flag pole extension; $42. This also aligns with the 1.618 extension from the yearly low of $12 to high of $30. If one wants to long silver, wait for break out above $30, then target $42 for first profits. If the rally continues and breaks ATH of $50, the next targets would be $60, $78, and $89.
Yorum:
We tested the lower trend line at $26 today. So far it bounced off it, but price needs to hold above