Very interesting situation is at the SILVER. At time-frame daily we can indicate an inverted Head & Shoulders pattern which realisation started last week. Range of upward moves from that pattern is located at 18.20 and that level is strengthened by important resistance. There is every indication that the price will reach to 18.20 level and rebound will occur. Before that, demand will have to break resistances at 17.10 and 17.70.
In a long term (for more than 5 years) SILVER moved in downtrend, however last 4 months there are higher highs and higher lows and the last two days confirm the fact that trend is reversing. As we can see at the chart, downtrend line (visible at weekly TF) was broken earlier. Right now Silver is clearly above this downtrend line and today price has reached 11-months high.
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Time-frame D1
Time-frame W1
