All that Glistens is not Gold.

Good evening Dynamic Traders,

Tonights chart for your watchlist for a change is done in AdvancedGet, and is of Silver, for a possible swing trade to the downside.

If you look at your weekly chart, you will see that we have been coming down since March last year, and it popped through the value index last week, and has an OB Stochastic.

If we now go down to the daily chart below, we are nearly at a T.J.'s long term elipse, we have just tagged the value index, we have a fib. cluster where we stand and another just above, we are in proximity to the figure, and to add to all this there are numerous other confluences on this and other timeframes to indicate a possible reversal is nearby, but I shall let you find those for yourselves.

I am thinking we could have a push up to slightly beyond the figure and towards the higher cluster, but will be patient and let the market dictate my entry, by using my lower timeframes.

Good luck as always, and please ensure to do a full analysis of your own before taking any trades.

Charts courtesy of AdvancedGet.

Clayton Farnworth.