Good afternoon traders,
With the flash crash in Silver now long forgotten, it’s back to being all about price. …Well, as if it was ever anything but!
Take a look at the following weekly chart featuring the latest higher time frame, bullish trend:
You can see the so called flash crash did absolutely zero technical damage to the higher time frame charts and actually made the bullish trend stronger, by confirming the trend line with a third hold. Of course price has been only heading up since then.
As you can see, the daily chart sees price pulling back to test trend line support once again.
Could this be the catalyst for a move higher, or is Silver ready to head back down toward its lows once more. I’ll leave that one with you for now.
Best of probabilities to you!
Dane Williams – Vantage FX
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Source: Vantage FX Blog