$SLV attempted to break above the macro downtrend line (blue) and fill the gap- unfortunately with no luck this time. Whether or not is going to form the ABCD bullish pattern ( the leg D @15 in December 2013, if AB=CD in time) or only re-testing the last swing low and reverses, the micro pattern looks bullish. If the reversal takes place next week or so, than a swing high of around 28 level could take place.
If the ABCD pattern will unfold,at the beginning of 2014 is $SLV bullish.
However, the macro trend is kind of bearish and it is possible that $SLV will aim in future for a major swing lower low.
I might see different tomorrow- but today is this picture of SLV.
If the ABCD pattern will unfold,at the beginning of 2014 is $SLV bullish.
However, the macro trend is kind of bearish and it is possible that $SLV will aim in future for a major swing lower low.
I might see different tomorrow- but today is this picture of SLV.