Spot Silver – Forms Pin Bar Rejection
After and impressive $6 bull run, spot silver has formed a daily and 4hr pin bar rejection off the $25 big figure. A lot of traders were asking me if this was a reversal setup to go short, or time to wait for a pullback to go long. My thoughts are the current bull run is weakening just a bit, albeit with some mild profit taking for sure.
Looking at the 4hr chart below, you can see the two boxes which represent the two bull legs in this $6 climb. The first box, you can see it had minor pauses (via the circles) which were small 1-2 bar rests in the …... Keep reading