Silver forcast XAGUSD SELLING PRESSURE
After Positive CPI data coming from US the major stocks crypto and forex pairs drop more than -1% on tuesday Newyork session.
Gold is also struglling at 1700 level of round number support.
In silver we see price break the market structure and now retesting its previous support now as a resistance and also shows bearish momentum candle which shows the more weakness in the commudity market in gold and silver.
Go short according to levels given in the chart
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“The weakness of silver is also evident in the gold/silver ratio, which is at a very high level at around 86. As an investment metal, silver is under pressure not only from gold – as an industrial metal, it has also been facing headwinds generated by the sharp falls in metals prices.”
Gold is also struglling at 1700 level of round number support.
In silver we see price break the market structure and now retesting its previous support now as a resistance and also shows bearish momentum candle which shows the more weakness in the commudity market in gold and silver.
Go short according to levels given in the chart
.
“The weakness of silver is also evident in the gold/silver ratio, which is at a very high level at around 86. As an investment metal, silver is under pressure not only from gold – as an industrial metal, it has also been facing headwinds generated by the sharp falls in metals prices.”
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