A pitchfork chart showing bearish (red) and bullish (green) pitchforks. Silver has been trending lower in the bearish pitchfork since July 2020 high but appears to be trying to break out and follow the bullish pitchfork. In hindsight the Sep 2022 lows (swing low) were an amazing buy signal with price testing and bouncing off the medium trendline.
Since that 2022 low, silver has more or less been following the bullish pitchfork, testing the lower green medium line twice so far (also good entry levels in hindsight).
Coincidently or not, the upper bearish pitchfork medium line lies at $26 - $26.50 level (depending on which week price hits) which adds significance to Avi's breakout and confirmation that wave iii has commenced on the above EW chart (blue box & green arrow). A breakout of the bearish pitchfork should have the silver price rally quickly to the medium bullish line (purple) around low $30 area.
A bit of a road map for the future, both bullish & bearish.
Charts, page-5
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