Silver has two patterns on the Daily TF that indicate a bearish direction ahead.
There is a complete Head & Shoulders pattern and also a Rising Wedge pattern that has been broke. Silver (XAGUSD) has recently had a bullish retracement to re-test both patterns and should start falling soon.
Short-Term TP = $28
Long-Term TP (from Head & Shoulders) = $24.60
Long-Term TP (from Wedge) = $20.70
I expect the short-term TP to be hit at least. The longer-term TP’s may or may not be reached. What will probably happen is that the Head & Shoulders target will be reached and Silver will hold up around the $25 level.
NOTE: I personally love Silver and think it’s a great long-term investment. I also consider it a highly manipulated market. I am bearish now based solely on the chart, but keep in mind that anything can happen with Silver!