Silver has recently performed a false breakout (same as gold) and reversed strongly. That indicates that the trend has strong reversed and the entire triangle is, in fact, a corrective wave. I am now fully expecting silver to trend down in the long-term.
Outside of technical analysis, the recent news that long-term yields are rising also support my overall analysis that USD will rise against most products. These include Yen, Crude, Gold, Silver, S&P, Dow and the FX majors.
Outside of technical analysis, the recent news that long-term yields are rising also support my overall analysis that USD will rise against most products. These include Yen, Crude, Gold, Silver, S&P, Dow and the FX majors.
Trade closed: target reached:
The first target was reached. I don't think the second target is valid anymore. Now I am more prone to long. Will publish another idea.
