Silver Ascending Wedge

4 thg 6

Silver was fairly strong today, even when ES and NQ sold off shortly after open. I had been looking for a short on silver since it broke below a major trendline, but this ascending wedge is a much shorter term pattern. It's always good to have confirmations on both longer and shorter time frames, so I like this setup. However, silver has been volatile and has the potential for short squeezes that cause big moves, so it's important to manage risk properly on this.