Silver resting on bottom of the daily channel as several of the Majors have started to post 1H doji after the big NFP move down showing early signs of temporary exhaustion. Earlier this week Gold had a similar setup, but as silver was still in the midst of it's channel, it was likely the gold channel wouldn't hold. First targets fall at the confluence of the down trendline and upper channel line, approx 16.50 - with the expectation that the support level found on the weekly chart at 14.50 will contain any spikes lower.
This trade setup relates to the long term view (please check link to related ideas) which calls for a completed correction in metals. By correlation - it calls for a buy on dips in Metals.
This trade setup relates to the long term view (please check link to related ideas) which calls for a completed correction in metals. By correlation - it calls for a buy on dips in Metals.
