SILVER - Channels of Trend
I have tried to provide a simplified trend prediction for SILVER.
I am concerned with the 1 month to 3 month timescale rather than short term trends for say day trading or scalping.
I notice that over the past 6 months SILVER has been trending a succession of upwards and downwards trending channels (roughly).
These channels have approxiamately 2 months duration each.
Each channel has a range reduced relative to its predecessor indicating reduction of price volatility.
The price may come out of the channel on exceptionally 'good' or 'bad' days but generally the trend and the channel are conserved.
Current trend is upwards within a tight channel.
Therefore I predict that silver will continue upwards exceeding my 2 target levels before downtrend channel appears during the next 2 month cycle.
My opinion only. Don't trade purely based on my analysis. Please draw your own conclusions and good luck.
If you agree with me send me a comment and a thumbs up. Thanks
GB
I am concerned with the 1 month to 3 month timescale rather than short term trends for say day trading or scalping.
I notice that over the past 6 months SILVER has been trending a succession of upwards and downwards trending channels (roughly).
These channels have approxiamately 2 months duration each.
Each channel has a range reduced relative to its predecessor indicating reduction of price volatility.
The price may come out of the channel on exceptionally 'good' or 'bad' days but generally the trend and the channel are conserved.
Current trend is upwards within a tight channel.
Therefore I predict that silver will continue upwards exceeding my 2 target levels before downtrend channel appears during the next 2 month cycle.
My opinion only. Don't trade purely based on my analysis. Please draw your own conclusions and good luck.
If you agree with me send me a comment and a thumbs up. Thanks
GB
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