Mar. 21 at 12:28 AM
$SLV $AG $SILJ $CDE
Posting a prior wedge here from silver when it went from
$70 to around
$84. You can see in the current wedge that yesterday we ran the stops below support and came back up and closed nicely only to have today drop and hold below support but not below the wick lows.
Now look back at the old chart where the green arrow is. We did the same thing. Ran the stops, came back up and closed nicely above support only to have the following candle close below support line but not below the wicks. That created a new support area just a bit lower that it continued to honor. This was followed with a move up, back down to scare everyone again, back up to support, everyone was giddy, only to crash back down again to support before ripping and getting back to highs quickly. I would expect a move back to resistant at the upper portion of our wedge and to fall back down one more time as high probability.
Continued in comments
