Silver (XAGUSD)Short
Silver Major Trend Break
Silver broke below its 10 month uptrend recently after a somewhat questionable H&S. Either way, bearish look if it can't reclaim. I would consider this a major area, will be looking for short entries on the retest. If it breaks back above, there's also another potential short entry slightly above on the test of the neck line.
If it reclaims both trendlines, this would turn from a bearish setup to a bullish one. Still bearish for now, downside targets are the recent lows around $28.75 and the trendline below from the high in May.
If it reclaims both trendlines, this would turn from a bearish setup to a bullish one. Still bearish for now, downside targets are the recent lows around $28.75 and the trendline below from the high in May.
You reap what you sow.
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
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