Six days ago silver registered several major events that will influence the metal’s path for several months or even quarters in 2022. One of the events, that was not visible on all data providers, urged me to update the long term charts and adjust the previous forecasts.
This weekly overview contains:
– daily/weekly/monthly/quarterly candle charts and their analysis from the candles and TA perspectives;
– long-term EW chart with targets;
– forecast for the next few weeks.
Silver had a very bearish Q3 quarterly candle and the bearish pressure is in effect. If, however, silver closes in December above $24.13 or 5.5% higher than now, the quarterly odds will shift bullish. If it closes lower than $24.13, the bearish odds will remain intact.
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