Silver May Be in Trouble

Updated

The more time it spends around green box, the more chances are it will break it down. A support reaction should occur soon. If not, then we can suspect that bears are just warming up. Will update the idea. Stay tuned

Note

No, Silver did not get enough support. I am preparing for shorting Silver. The target is below 15$

Trade active

The recent price action in Silver suggests that it is about to break , which may also lead to a huge selloff in Gold. $16.20 used to be a strong support in the last 2 years, but we do not observe the same right now. A lack of support can send it to below $14.0. I shorted from $16.24

Trade active

I see some weakness in DXY. I lowered my stop to 16.20 since this weakness can reflect itself on Silver. I have short from 16.24 and my stop is at 16.20

Trade closed manually

With small profit

Trade active

Shorted again.

NurlanAvazli

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