Bearish case for silver

٢ أغسطس ٢٠٢١

This would be the bearish case for silver:
Triangle pattern broken to the downside. Price quotes are under the 50's MA. Target for this case according to the height of the triangle would be ~17 USD / Oz..

According to inflation and so on it would be a rather unlikely scenario, but the market does what the market does.

٢ أغسطس ٢٠٢١

ملاحظة

Update:
The calculated target should be within the area of 17.00 - 18.50 USD. In any case, it'll have to cut through the 200's MA but I think this won't be a problem.

٦ أغسطس ٢٠٢١

ملاحظة

Currently, XAG/USD is dropping further. On the daily timeframe, the inverse SHS chart pattern seems to be very unlikely now. By the end of next week, a death cross is coming up on the daily timeframe. So all in all it doesn't look such shiny for silver.

٤ سبتمبر ٢٠٢١

ملاحظة

2 weeks of an upward correction in silver. Technically the bearish case is still open. Strong resistance ahead at 24.82 USD. I could see silver dropping again from the current week's high but both possibilities are feasible.

١٦ سبتمبر ٢٠٢١

ملاحظة

consider profit-taking.

٢٠ سبتمبر ٢٠٢١

تم إغلاق الصفقة يدويًا

Closed the trade now. Consider going short again with prices under 22.00 USD.