SLVEST - Looking for potential bullish momentumY wave, target (E) within stipulated time.
The current price is almost exit down Kumo, suggesting a potential bullish breakout.
The Chikou Span is above the price 26 periods back, indicating potential bullish momentum.
If golden cross occur, which is typically consider a bullish signal.
Volume appears relatively consistent but should be monitored for any increases to confirm momentum.
Consider entering a long position as the price is breaking above the Kumo. This breakout could signal further upward momentum.
Place a stop loss slightly below the cloud boundary or recent low around 1.55 to manage risk if the breakout fails.
A reversal or close back within the Kumo would weaken the bullish setup.
Failure to break above the Fibonacci resistance levels at 1.67 and 1.69 may lead to consolidation or pullback.
Note:
1. Analysis for education purposes only.
2. Trade at your own risk.
