One of my followers emailed me this morning asking if I could see a bullish-reversal Inverse H&S setting up on Silver. I can, sort of, but still see $20 as the stumbling block resistance to get past here.
Silver monthly: the $20 level still looks to be the longer term S/R level to get past:
Silver weekly: any break of $20 would bring the $35 level into focus as this is near previous S/R and the 61.8% fib of the major swing Low move:
Silver daily: a support trend line remains in place on the daily chart as price prints higher Highs and higher Lows:
Silver daily Inv H&S: I can see an Inverse H&S; although it is a bit messy. The depth is about $2.50 so the target, for any break above the $19 neck line region, would be about $21.50:
Silver 4hr: the 61.8% fib of the recent swing High is down near $17.50 and would be the first major target with any pullback and break of TL support:
Summary: any bullish break for Silver above $19 could trigger a bullish-reversal Inverse H&S pattern with a target of around $21.50. Any monthly break above $20 would be rather bullish though and would bring the longer term 61.8% fib region, near $35, into focus.