Silver crossed above the up-sloping median (center) line and closed beyond the line on Friday and Monday. However, heavy profit-taking pressured the market on Tuesday, causing the Silver t0 dip below the line. The sell-off ended quickly and Silver surged above the line for a second time during Wednesday’s trading session forming a “double cross” pattern. I usually like the “double cross” pattern on the 20- day SMA, but it can be just as effective with the median line. A strong close on Wednesday would portend a test of the prior swing high at $18.88 and a possible continuation toward the long-term reaction line.
