Monfex
Short

Bear Flag on Silver !?

OANDA:XAGUSD   Silver / U.S. Dollar
Hi, Traders ! Monfex is on the air !

Silver's price seems to be shaping out the Bear Flag pattern. Short is active!

* The price of silver ( XAGUSD ) has drop sharply from $18 to around $17.60 on Tuesday's trading session.
* FOMC decision to cut interest rates and weaker-than-expected PMI data from China couldn't restrain Silver's price from falling.
* Though, Silver prices had demonstrated a bullish run on a break-out of the descending trend channel, the recently formed pattern could be described as a Bear Flag .
* Moreover, Silver is currently trading below the 21 Daily EMA , and the price is likely to break $17.50 down, heading to EMA 200 around $16.50.

Active trade signal

Sell @ $17.60 - $17.75.
Target: $16.50.
Stop-loss: $18.15.

Watch for our Updates to get real-time superior signals!

GOOD LUCK AND LOTS OF PROFITS !!

Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
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