short term line chart, page-238

Last week we could only see a possible in the weekly line chart for silver. But this week we are seeing silver breaking out in all the 3 timeframes in both the line and candle charts making it more likely that this is a true breakout. Silver is overbought now in most indicators and prices may pullback to retest the breakout. But with silver sometimes it just go straight up without a retest which is why I like to be positioned before a breakout. If there is a strong pullback it may be that the stock market has a retreat when investors realize that the Fed mean it when they say they want to have interest rate higher for longer and we see profits from corporations beginning to slump. Anyway here is the daily chart for silver showing the clear breakout