Silver/GBP XAGGBP

Silver still trapped inside triangle formation, lagging with regard to gold's performance....waiting for a break higher and moving average inversion for bullish entry.

wave 4 commences

#XAGGBP #SILVER channel

Silver’s day end close below the double top neckline level of GBP 14.514/Oz with daily RSI at 40.00 suggests the prices are likely to drop further to GBP 13.74/Oz (June 24 high). However, 5-day losing streak has left prices oversold on intraday charts, thus a minor rebound from GBP 14.327 (23.6% of Dec low – July high) could result in a brief jump above neckline...