XAG - Breaking Down
Updated
Silver is breaking down - typically leads XAU - putting hedges/shorts in today with tight stops. The equity markets look as though they are topping - these could drag everything down, particularly if there is a large move - risk should be off.
Trade active
Hedges stopped out immediately - this could be a turning point - nice fake out - XAU is trying to break from its bullish wedge - NEM is interesting with a clear flag and as a large cap may lead the way in the stocks - the next week or so are critical..Trade active
XAG's breakdown is gathering momentum - DXY is moving back into channel (see previous chart), equities look like they are topping, US Treasuries yields still supported - a very dangerous environment - risk should be off..
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