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Message: Posted by Scott Pluschau at 11:36 AM ...silver h&s

Silver approaching neckline of a Head and Shoulders pattern

Bulls do not want to see this neckline of a "Head and Shoulders" pattern fail on the daily chart in silver, right hand side below.

Failed patterns are the strongest signals so should it breakdown with no follow through, the right shoulder becomes a target once back above the neckline.

I won't be trading silver to the long side below the neckline, I don't look for bargains. A retake of the right shoulder will be a bullish development if there is no follow through to the downside.

(Click on chart to expand)

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