Hi Traders!
SILVER has broken below the neckline break in its head-and-shoulders pattern, and there is a possibility for a continuation to the downside if the market continues to stay below the neckline.
Here are the details:
After the initial momentum break below the neckline, the market is now retesting the neckline as resistance, and the 20 EMA has lined up perfectly with it.
We are looking for the market to stay below both the neckline and 20 EMA and look for exit targets near the 21.90 level.
Preferred Direction: Sell
Technical Indicators: 20 EMA
Resistance: 23.650
Support: 22.681
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
SILVER has broken below the neckline break in its head-and-shoulders pattern, and there is a possibility for a continuation to the downside if the market continues to stay below the neckline.
Here are the details:
After the initial momentum break below the neckline, the market is now retesting the neckline as resistance, and the 20 EMA has lined up perfectly with it.
We are looking for the market to stay below both the neckline and 20 EMA and look for exit targets near the 21.90 level.
Preferred Direction: Sell
Technical Indicators: 20 EMA
Resistance: 23.650
Support: 22.681
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
Trade closed: target reached