7th July weekly up bar “A” closed towards the high with ultra-high volume. Bar “B” widespread down bar closed below the middle. Silver made new high in July 30.05. Distribution started by forming Two Bar reversal pattern on bar “A” & “B”. Gold Signal Analysis
Bar “C” key reversal bar made a new high and closed on the low indication for more weakness . Symmetrical triangle pattern also formed and price broke below the triangle.
Bar “D” 16th October weekly bar is a key reversal bar.Next weekly bar is inside bar did not make new high or low. This inside/coil bar dictating energy build for more downside move.
20.50 is breakout support for silver to change the trend for upside.
Supports: downside first level 22.80, later on 21.80. 21.80 should hold for bullish seasonal in December. 20.50 is ultimately supported for a bullish trend continuation Gold Signal Analysis Prefect.
Resistances: 25.70, next level 27.00, and 27.80 as well.
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