Silver still Bearish
Updated
Silver is still bearish when looking at the indicators.
I expect it to touch the lower range around 17.5 and
a possible break of the range from that point. The past
years silver seemed most comfortable in the 15.500-16.800
zone.
This sunday we have the french elections, I personally expect
that Le Pen wont win, giving the Euro a boost on monday. However
I also see a decrease in safe havens because of this which means gold
and silver will drop even though the euro will climb.
Trading advice: Sell the spikes or if your equity allows it sell it at
current market price and be ready to add more along the way or spikes.
I expect it to touch the lower range around 17.5 and
a possible break of the range from that point. The past
years silver seemed most comfortable in the 15.500-16.800
zone.
This sunday we have the french elections, I personally expect
that Le Pen wont win, giving the Euro a boost on monday. However
I also see a decrease in safe havens because of this which means gold
and silver will drop even though the euro will climb.
Trading advice: Sell the spikes or if your equity allows it sell it at
current market price and be ready to add more along the way or spikes.
Trade active
Current retracement is nice opportunity for another short position! 16.800 target 15.400 after thatTrade closed: target reached
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