Sell Silver for Now
SIlver just broke thru a major support confluence of the 200 ema, the flag pattern, 2016 trendline, and a prior resistance/support area. Recently, we formed a bearish engulfing pattern rejecting this level at 17.800. This is a great time to sell with a stop loss above 17.800 targeting 16.00-16.2 for the 1st target and I would expect prices from there to rebound based on multiple things, but we will see. The trade offers a risk/reward of 3:1.
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