Silver to 23.52, then 24.40 and ultimately 25.90

29 thg 1

Fundamentals backing this trade idea:
- Silver as a seasonsal tendency to rise in the month of February
- Looking at the Commitment Of Traders Reports, large commercial hedgers are decreasing their overall net short positions

Thought process:
Smart Money Concepts begin with adopting the 'Market Efficiency Paradigm' which is the idea that the market is either seeking liquidity or areas of inefficiency at a premium or a discount.

I interpret the price run below 22.51 as smart money buying as a counter-party to traders who had market orders to sell the market at that price point (buying from sellers at a discount)

To then offset some of their positions at 24.40 where there are willing buyers at a premium

Any bearish candle that prints on the DAILY chart is viewed as a buying opportunity. I anticipate 'UP' candles to be broken through with low resistance and 'DOWN' candles to hold as 'support'