Silver has reached the level of previous resistance and is beginning a pullback. The situation remains unchanged—it looks like a short-term spike followed by a deeper downward move.
I believe it's reasonable to consider a short position in silver.
Additional bearish factors:
Copper, also an industrial metal like silver, is declining.
After such a vertical rally, a downward move with consolidation is likely.
I believe it's reasonable to consider a short position in silver.
Additional bearish factors:
Copper, also an industrial metal like silver, is declining.
After such a vertical rally, a downward move with consolidation is likely.
Trade active
A tight stop-loss can be placed just above today's high.Trade closed manually
Close at a breakeven.Looks like we go higher!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.