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Trading Silver using RSI Edge

Silver is probably forming a ascending triangle classical pattern on the hourly chart. The breakout is yet due. Breaking below 38640 will confirm the pattern and the target of the pattern is at 37830 levels. The invalidation point is at “e” – 39080.  The RSI on the hourly time frame is dull and has not been above to move above the bullish extreme levels which further indicates bearish nature of the pattern.

A close above the 39080 levels will invalidate the pattern and coiling move may be seen in the opposite direction.  Trade Well

Bharat Jhunjhunwala MFTA, CFTe, MSTA, MSTA

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