Emerging Channel Up pattern in its final wave was identified on the Silver Spot 30 Minutes chart. After a strong bearish run, we find Silver Spot heading towards the upper triangle line with a possible resistance at 31.8289. If the support shows to hold, the Channel Up pattern suggests a rebound back towards current levels.
Because Silver Spot formed a Channel Up pattern, we expect it to touch the support line. If it breaks through support it may move much lower
