Simple technical analysis, when applied correctly and over long time frames can be incredibly effective at generating returns. Here we have a Gann Fan with three simple levels 1/2, 1/1, and 2/1. The market has reacted well with the fan thus far. This could be an indication that the market will also react will with the 2/1 trendline. In addition Silver is sitting on a Support/ Resistance level that has been tested numerous times over the past year or so. First take profit will be at around the 18.50 area, which is the next significant support/resistance level.
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Happy trading and may the market move in your favor!
Please leave your thoughts, comments and a like if you enjoyed this post.
Happy trading and may the market move in your favor!
