Just an observation...
My job it's to manage risk and keep gains.
Positive note first... The two pink arrows are different. 2021 had a red candle and a weaker bounce from the 60 on the RSI... As opposed to a Green candle and a strong RSI bounce at the 60.
Negative is there is MACRO bearish divergence (PINK LINES) which is not to be confused with a bear market coming but a DIP...
There is also the same weekly bearish divergence (WHITE LINES) found in the recent 21 weeks in comparison to the previous 25 week pattern in 2021.
AND there is a double bearish divergence found in the 2024 price action denoted in ORANGE LINES.
The projected blue bar pattern pulled from 2021-2024 PA is an idea of what "COULD" happen from this area. Which lines up with previous resistance turning into support of which I kept expecting to retest but never did.
I almost hope it does.
WHY? Because if silver goes straight to $100.
That means depression IMHO...
I hope we just go sideways in a way. This everything bubble scenario is pretty scary.
Time will tell the tale.
Positive note first... The two pink arrows are different. 2021 had a red candle and a weaker bounce from the 60 on the RSI... As opposed to a Green candle and a strong RSI bounce at the 60.
Negative is there is MACRO bearish divergence (PINK LINES) which is not to be confused with a bear market coming but a DIP...
There is also the same weekly bearish divergence (WHITE LINES) found in the recent 21 weeks in comparison to the previous 25 week pattern in 2021.
AND there is a double bearish divergence found in the 2024 price action denoted in ORANGE LINES.
The projected blue bar pattern pulled from 2021-2024 PA is an idea of what "COULD" happen from this area. Which lines up with previous resistance turning into support of which I kept expecting to retest but never did.
I almost hope it does.
WHY? Because if silver goes straight to $100.
That means depression IMHO...
I hope we just go sideways in a way. This everything bubble scenario is pretty scary.
Time will tell the tale.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.