Matevski3
Short

Shooting (Silver) Star - Watch out below!

FX:XAGUSD   Silver/U.S. Dollar
146 2 2
Silver             has had an incredible rally the past few weeks, but is has now formed a bearish Shooting Star. This could mark a new higher high (HH) and a possibility of going lower, making a new higher low (HL) around 17-18 dollars/oz. RSI is also indicating it is strongly overbought ( RSI @ 84)
Because it probably has started a major overall bull market, a short position should be kept small IMHO. A retracement from here would also provide a great buying oppurtunity for longs, physical and mining stocks .
Wait for a confirmation tomorrow with a close below the Shooting Star.
ChargingBull
5 months ago
Even the higher high in April was at 85 RSI. Beautiful chart. Should see a lower high coming up soon.
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Matevski3 PRO ChargingBull
5 months ago
I hope so! :)
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