The 4 hour chart is flirting with the lower parallel line of the parallel uptrend. and I believe this trend will hold.
A slight adjustment to the 'Silver Daily Chart Update' is made to the lower line of the pennant.
The breakout could occur at about $15 60 and not at $15.70 as previously described in the daily
chart. Otherwise everything is still on target as in daily chart.
The RSI (Relative Strength Index) may also give a clue as to the expected breakout and should be watched closely.
An initial target of $16.67 is expected before some profit taking should occur. However, when this profit taking is
over, it should present another buying opportunity for the silver bulls. :)
A slight adjustment to the 'Silver Daily Chart Update' is made to the lower line of the pennant.
The breakout could occur at about $15 60 and not at $15.70 as previously described in the daily
chart. Otherwise everything is still on target as in daily chart.
The RSI (Relative Strength Index) may also give a clue as to the expected breakout and should be watched closely.
An initial target of $16.67 is expected before some profit taking should occur. However, when this profit taking is
over, it should present another buying opportunity for the silver bulls. :)
