U.S. rate-hike expectations send silver back on the road
Everyone should have the mind of a valley and the tolerance of the sea. The reason why Jianghai can become the leader of all small rivers is because it is good at being in the downstream of all small rivers. That is the magnanimous person who is open to all rivers. Such a person can open the door to success.
Federal Reserve Chairman Bernanke's speech caused an uproar in the market, dragging down the price of silver, and the second drop came earlier than expected. In the short term, silver will continue to move downwards and continue to be bearish. Silver operation suggests selling at 20.23, risk control at 20.39, target 19.80~19.45~19.20.
Silver is bearish for several reasons:
1. Silver's bullish rebound was prematurely affected by the data yesterday, and the bottoming trend is still continuing.
2. According to my personal analysis, the decline of wave 2 has not been completed, and the market will continue to bottom out.
3. The intraday pressure is 20.23~20.41, supported at 19.45~19.20.
Traders, if you like this idea or have your own opinion about it, please write in the comments. I will be happy 👩💻
