Silver - Week 1 - Incoming bears

Silver is lingering in a messy corrective structure. The Weekly chart for Silver indicates that a stronger bullish trend has started on the Weekly timeframe, which means that on the long run, the price can test the 35$ area. For the moment, the lower trendline shall be our guide. On both Daily and 4H timeframes we expect a bearish move to be on the cards to test the 20$-21$ area before resuming its uptrend.
Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.

Trade closed manually