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$19.50 Target Hit

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Almost a month on from the last post on silver and our target of $19.50 has been hit. The daily chart below shows the bullish RSI divergence and, perhaps more interestingly, how the RSI downtrend played a perfect role in providing sell/short points.
The key thing to look for now is for that RSI to break out of it's downtrend. That ought to confirm a decent move upwards in price as long as it occurs before the price breaks out of it's downtrend (not shown). Note also that gold has also hit an important target level on Friday too.
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Guest Sunday, 22 May 2022