OptimoomFX

Silver- More bearish than Gold

Short
OANDA:XAGUSD   Silver / U.S. Dollar
Like its bigger brother, Gold , Silver also has a good start this month, with the price rising around 2500 pips or around 10%.
However, after breaking above the neckline of an H&S , the price stalled and lacked strong continuation. Instead found a strong ceiling at 25.50 and yesterday's rally above resistance for Gold wasn't matched with a rally above 25.50 for Silver .
This consolidation above the neckline looks like distribution to me and a drop under 24.70 could accelerate losses towards 23 zone support
I will look to sell rallies and a daily close above 25.50 would negate this scenario

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