by Hubert Moolman
On the silver chart, is a classical major reversal pattern referred to as a Head and Shoulders Bottom. Major reversal patterns form after a downtrend, and its formation normally confirms a change in trend. Below, is a silver chart (all charts from tradingview.com), with the pattern highlighted:
[…] The existence of this pattern, and its recent breakout confirm that the December 2015 bottom in silver is actually the bottom for the correction since 2011. This is a precious gift, if you were still unsure whether to get into silver or not. This was also confirmed by the fact that the USD/ZAR made a significant top very close to the December 2015 silver bottom USD/ZAR (a USD/ZAR top is a good signal to confirm a silver bottom).