Silver Weekly Chart Short Position after longs are out in profit
Since the breakout, silver has already moved 200% of the breakout range, meaning that anyone who bought the breakout has effectively doubled their money, assuming they placed their stop loss below the previous low.
When such a move occurs, we typically see massive profit-taking from large buyers, which almost always leads to a strong correction before the market attempts another leg higher.
In fact, this could mark the end of the upward move, with the price likely to fall back toward the 42.00 area before any renewed rally attempt.
Since the breakout, silver has already moved 200% of the breakout range, meaning that anyone who bought the breakout has effectively doubled their money, assuming they placed their stop loss below the previous low.
When such a move occurs, we typically see massive profit-taking from large buyers, which almost always leads to a strong correction before the market attempts another leg higher.
In fact, this could mark the end of the upward move, with the price likely to fall back toward the 42.00 area before any renewed rally attempt.
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Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.