Hey guys, Silver looks to be bottoming out at this $22-22.3 range with a lot of wicks showing strong buying pressure. We have a previous support line there and a Fib retracement line there acting as strong support with a consolidation flag on the 1 hour time frame shown below developing a reversal trade setup. With the RSI showing buyers momentum increasing I believe we brake out of that pattern, which means this channel pattern on the daily will play out. The first leg reaching $24.5-24.6 where again we have a previous support line, 150 day MA and a Fib line acting a resistance and could bring a pull back before we resume past this point and push to the top of the channel. For now I'm only targeting this $24.6 price until we get closer to the further targets.
1.6% risk for a 9.5-10% reward
I'm going to be buying warrants to make it around 40% profit to a 7% lose there abouts
1.6% risk for a 9.5-10% reward
I'm going to be buying warrants to make it around 40% profit to a 7% lose there abouts
