Silver has formed a counter trend pin bar on the daily price action chart. This pin bar is against the recent uptrend, but is rejecting the resistance on the daily chart and the Very Big Round Number (VBRN) of 25.00. If price can manage to move lower and break the pin bar low, price may be able to move lower and into the near term support.
This near term support could provide a key level in the uptrend for those traders that love to trade with obvious trends to target a logical key level to join in this trend. This support has acted as a previous resistance zone and has now flipped and is now looking to hold as a new support in the uptrend.
Counter-trend pin bars are a lot lower probability than pin bars with the obvious trend. I recommend new traders stick to only trading with the obvious trend from key levels within the obvious trends until they gain experience.
SILVER DAILY CHART
I just play this pin bar as a counter -pinbar..i think you can take profit until the resistance zone.
Nice analysis about silver.Crude oil daily also have pin bar on resistance and today price declined.