Silver double bottom

4 thg 12, 2024

Silver is a heartbreaker if it doesn’t play my game. On a slightly larger scale, I see a potential head and shoulders pattern forming on the Silver chart, indicating a possible downward direction. However, I also observe a double bottom pattern, where both bottoms have formed inverse head and shoulders patterns. If this “W” shape breaks upward, my target would be the 0.618 Fibonacci retracement level at 32.85. On a larger scale, this upward move could potentially develop into wave “B” of an ABC correction pattern.