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. A H&S pattern is not bearish until then.
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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