Silver: Trade Opportunities and Market Review

The situation in the Silver market is close to the situation in the Gold market.

Let's look at the daily chart and try to find possible trade opportunities.

The price reached the resistance zone between 18.25 and 18.50 levels.
We have reversal candlestick patterns. RSI is in the overbought zone, and it will be able to give a strong sell signal. MACD histogram supports a possible downward movement.

The plan is simple. If the price reverses from the resistance zone, it will be possible to sell with stop orders above 18.50 level. The profit target should be at the support zone at 17.00. In order to open sell trades, we will have to wait for additional signals confirming the downward movement. Don't forget that selling will mean trading against the main uptrend. If you are a novice trader, it will be better to skip this opportunity.

If the price corrects the upward movement to 17.00 support and we get a confirmed reversal signal, it will be possible to open a buy position.
This trade will be in the direction of the main trend and with good fundamental support, it will be able to give us good profit.

All trades must be planned before opening positions. All trades must be with stop orders!