The forth price target has just been hit on the SLV (silver ETF or /SI, silver futures) swing trade where the odds for a reaction are elevated. Consider booking full or partial profits and/or raising stops if holding out for any of the additional potential targets. Previous & updated 60-minute charts below showing the multiple objective entry & exit points for both active & swing trader over the past week or so.
SLV 60m Feb 8th
SLV 60m Feb 14th
SLV 60m Feb 15th
SLV 60m Feb 16th
As you can see from the solid & then dotted (& lighter in color) arrows on the original chart, this 21.34ish resistance was & still is my “preferred” swing target. While I do think the odds for a reaction here are elevated at this time, I don’t have very strong convictions on if or how much silver will pull back from here or if & how much it will continue higher.
As such, those bullish & holding out for additional upside could simply raise stops to protect profits & let the position ride. Likewise, active traders might opt to book profits on their long position and/or reverse to short in attempt to game a pullback off the initial tag of this resistance/target level with a minimum pullback target just above the 21.07 support/former T3 level or let it run with a trailing stop (or periodically ratcheting down stops).