Silver is putting wedge resistance & 200 daily MA under pressure, after posting 3 consecutive higher lows.
Looking for a breakout to the upside as it has finished A-B-C (5-3-5) wave II from February.
Ultimately expecting to resume the underlying uptrend from November 2018 and to reach 16.83 target at least.
Trade closed manually:
Seems like failed breakout for now
As a battle between gold buyers and sellers continue, silver depreciates in value still living the room for bullish scenario
Another reactive activity at the lower end of the range got absorbed by sellers at the trendline from March 25. The tension is rising. Another false breakout is possible before establishing the direction of the next order move. Watch for confirmations.