silver outlook
Silver is currently supported by the trend line formed since February 27th (denoted by the red upper trend line), while simultaneously facing resistance at the upper boundary of the channel that has been forming since September 2022 (represented by the green color channel).
although the head and shoulders pattern (denoted by red circle) remains intact following the breach of the September channel's upper boundary, the market is currently consolidating. Notably, a bullish wedge flag pattern has emerged during this consolidation phase, but confirmation of this pattern is still awaited.
This juxtaposition creates a mixed outlook, indicating indecision in the market's direction at this time.
"For a more comprehensive understanding, please refer to my earlier insights on this topic"
although the head and shoulders pattern (denoted by red circle) remains intact following the breach of the September channel's upper boundary, the market is currently consolidating. Notably, a bullish wedge flag pattern has emerged during this consolidation phase, but confirmation of this pattern is still awaited.
This juxtaposition creates a mixed outlook, indicating indecision in the market's direction at this time.
"For a more comprehensive understanding, please refer to my earlier insights on this topic"
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