The Weekly Swing Chart on SLV
could turn up today on trade above last weeks high of 27.98.
That’s a big stretch, but SLV is exploding like everything else related to a declining dollar.
If SLV got anywhere near last week’s highs it would leave weekly Train Tracks (bullish).
It already has carved out daily Train Tracks this morning.
The set up offered in Silver Square
, is playing out as SLV knifes back up through the ‘broken’ base of well-tested support at 26 yesterday leaving a new low on the year.
The reversal seems to be confirming the idea of a big time/price square out 120 degrees in time from the late February high at 36.44 with yesterday’s low approximating 180 degrees down from 36.44.