SILVER: Moving downwards…
The Daily trend is in a Downtrend technically indicated by following:
• Dow pattern- lower tops and lower bottoms (T1-B1-T2-B2).
• Price is currently trading BELOW the downtrend line.
The downtrend is confirmed from the MAs. Bearish cross observed- MA 10 cross under MA20.
Generally, the main long-term trend has favoured the downside.
Therefore, we will recommend SHORT positions for the no position holders on SILVER in case of a move BELOW the level of 14.35. Take profit at 13.91 (S1) and stop loss should be a bit above the 14.35, thus the stop loss is at 14.46.
For Short-holders we will recommend to HOLD their short positions and adopt the same stop loss and take profit orders as mentioned above.
Otherwise, a move above the downtrend trend-line confirms that prices may move upwards. In this case we will recommend long positions.
• Dow pattern- lower tops and lower bottoms (T1-B1-T2-B2).
• Price is currently trading BELOW the downtrend line.
The downtrend is confirmed from the MAs. Bearish cross observed- MA 10 cross under MA20.
Generally, the main long-term trend has favoured the downside.
Therefore, we will recommend SHORT positions for the no position holders on SILVER in case of a move BELOW the level of 14.35. Take profit at 13.91 (S1) and stop loss should be a bit above the 14.35, thus the stop loss is at 14.46.
For Short-holders we will recommend to HOLD their short positions and adopt the same stop loss and take profit orders as mentioned above.
Otherwise, a move above the downtrend trend-line confirms that prices may move upwards. In this case we will recommend long positions.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.