Silver broke trendline and has built a bearish flag. Short from here to major support. Small position as we as getting a bit oversold soon, risk of bounce.
This is a high risk trade against the trend. TIGHT SL @ 16.300. Trying to monetize a bounce off the green line. Knowing that price is under massive pressure and fundamentals unlocking space for further downside. IF bulls are strong enough, we see fantastic risk reward. If we dont make it up from here to north and break below green line: 15.700 area likely to come.
broad downside potential after break of trendline given in the chart; pending short order @ 1.53050
weaker USD expected; retest of the long term respected trendline @ ~99.30
PA on the weekly showing inside bar and giving the idea of trend reversal / going long, expecting weaker USD for Q1/17; entered the trade after break of 0.72423. re-buy most likely pullback