Blake Morrow’s Chart of The Day – Jan 29th 2021

Silver
Technically, this is a good setup for Silver bulls in the near term. If you have been following the news, this is one of the recent targets of the ‘Wall Street Bets” Reddit group. With that being said, we should note that the inverted head and shoulder pattern is targeting the $28 level currently, with the neckline providing support at the $26 level near term. As long as we stay above this level we see no reason why we can not be very close to the monthly highs from January 6th at $27.91.
