Keep in mind this Blog is for studying, it is not an absolute on any direction of investments.
The 3 year Daily Silver chart has a very similar chart pattern presently as in the runnup to $ 49.00. A flag pattern has developed with the Bollinger Band, Full Stochastics and RSI charts nearly identical to the same levels as before. The price level couldn`t be closer with the top of the flag as well with the lower level, and it is within the same time period excluding 1 month.
It`s probably is a good idea to watch the Dollar Index chart. Chart indicators show an overbought position or near that. Silver and dollar prices move opposite directions.
Overseas trading on sundays may also be an indicator of the direction with monday following in the USA.
Please note: Silver can be a very volatile action with prices so keep that in mind, also the next weeks events could affect the action.
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