Long position on silver

29 Sep 2019

Greetings...what we have here is silver trading in a range...with the market closing above our support on friday signifies a good levels for the bears to come in...in confluence we see that the market is showing a possible double bottom pattern which could push price to the 20 dollars an ounce level ...we have to avoid fomo and wait for good price action to give us good buy signals on the 1h time frame as we are in the end of the month ...if the market decides to push lower we can look for the 17 dollars level ...we could see silver prices push as high as 21 dollars...we also need to note that the market might be in the distribution phase ( i believe silver prices are going to thread higher ) bt we must not ignore the market phases