There's an inside bar candlestick
pattern at the 18.55 resistance level
in the #silver market which could lead the price lower in today's London session. If the current candle closes as it is right now or lower, we would then have a bearish engulfing candlestick
pattern, which would increase the odds for the bearish inside bar candlestick
pattern. The long term trend is still bearish
as the short term moving averages (10 and 20 period) continue to stay below the long term moving averages (50,100 and 200 period) and the Tenken-sen just crossed below the Kijun-sen in today's Asian session.The stochastic
indicator is showing that the price is overbought at the current level too. With all the indicators showing the market remains bearish
, we could potentially have selling opportunities in today's London session.