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.

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