Silver Medium Term Outlook

FX:XAGUSD   Silver / U.S. Dollar
181 5 3
Silver             has broken major support $16( ascending triangle pattern) and made a low till $15.71.Overall trend is weak and decline till $13.65 cannot be ruled out.
Minor resistance is around $16.80 and any jump above will take the commodity to $17.60/18.50 in short term.

Indicators ( Daily chart )
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell

Recommendation: Sell Silver             around $15.95-16, SL $16.80, target $13.70.
+1 Reply
IvanLabrie jangseohee
We're on the same page...I like Silver for a long after this triangle completion.
+1 Reply
Mk48_ADCAP IvanLabrie
Me too. I'm waiting for the Euro to drop below Dollar Parity. USD is acting like High Lander lol
IvanLabrie Mk48_ADCAP
Partity might never happen, considering how mainstream the eur weak, usd strong thing is getting...
I got out of my eurusd shorts for now, just focusing on other trades.
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