$SLV struggles with zero line while in “Go” trend

$SLV struggles with zero line while in “Go” trend


January 2023


Alex Cole

$SLV has seen price moving sideways since the end of last year.

During that time, price has fluctuated between aqua and blue "Go" bars while moving within the upper and lower bounds of a channel.  The GoNoGo Oscillator has been stuck mostly at the zero line.  First we saw a Max GoNoGo Squeeze build but since that ended we have seen no clear movement above or below the zero line.  We will watch for this direction from momentum.  If it can rally into positive territory then we are likely to see price attempt to break out of the channel and make new highs.