Silver (XAG/USD) maintains the top. Therefore I expect the precious metal to plunge towards a decisive break below the September 16 low of 18.76, which would indicate that this month’s rebound was a dead-cat bounce, raising the prospect of a retest of the September 1 low of 17.53. Furthermore, a decisive break below 17.53 would be a sign that silver had resumed its medium-term downtrend.
Trade closed: stop reached:
Silver gained some momentum in the last few days and pulled over my channel and hit my SL. It happens, we'll evaluate and come again.
