This market climbed for days. Is it over? Watch one low

This market has been climbing for days. Is it over?

One low on this chart answers it.

This is silver on the four-hour chart. It climbed from 62.14 to 71.16 in under ten days.

Then this single candle made a new high, and closed all the way down at 66.96.

Check one: are the higher lows intact? Mark each low on the way up.

62.14, then 65.62, then 67.42, then 67.61. Each one higher. That's the uptrend.

The low that matters is the last one: 67.61.

Check two: did a candle close below it? This one closed at 66.96. Yes.

That's the first lower low. The chain of higher lows is broken.

So the answer: the uptrend is over, at least for now. If you were long, that was the exit.

Here's what happened. Silver kept sliding, down to 63.29 within five days.

Now the flip side. A big red candle that stays above the last higher low? The trend is still alive.

So don't panic on one red candle. Watch the last higher low.

Save this. Higher lows intact: still up. Close below the last higher low: it's over. Stop buying the dips.

Your turn. A big red candle in an uptrend, but it closes above the last higher low. Over or not? Comment below.

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