During the past 2 years, the price of Silver has formed a narrowing pennant pattern.
This tightening range pattern likely bored may bulls and bears to sleep. But the price action won’t be boring for very much longer!
The pattern will eventually see price get squeezed out of the channel… and soon.
Currently, Silver is testing the top of a long-term narrowing pennant pattern (1). Are Silver bulls getting ready to run?
Well, if Silver breaks out at (1), it could see a nice rally take shape.
Stay tuned!
Silver Futures Weekly Chart
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