Per request, I am exploring the viability of adding subtitles to my videos. But for today I’ve just whipped up a quickie on silver, based on something I saw while fiddling with the chart.
Basically, it is a large H&S targeting some solid downside objectives (50% & 62% Fib) vs. a small Inverted H&S, targeting upside to around 53, which would qualify as a test of the highs.
If the small H&S plays out for a test of the highs, it could be more bearish, longer-term. If it fails and we get a slam to 41 or so, it could be pain now and a more bullish situation sooner. In short, the “test of the highs” scenario could turn out be part of an extended topping process, which would not be desirable (even as it would be tradable in the short-term).
