Silver - at imp zone. Watch for a turn or breakdown

Silver is at a support level similar to the one we had spotted earlier (highlighted here) post which it gave a good move. Had suggested exits at 19.5 and near the top. It is showing some will to live but gold has been a drag. The risk reward at the earlier spot was better as we were anticipating a rally too.
Will update on significant development

تعليق:

So we broke below. The support has now flipped to resistance around 19.6 (numbers will change with time. Nothing to do as of now. Rallies towards 19.5-19.6 will be worth looking at for shorts. Expecting a bounce initially

تعليق:

So we did get the bounce to 19.5.
Have a good weekend

تعليق:

we were expecting a bounce to 19.5-19.6. The high for the bounce happened in morning session (not very convenient) around 19.65-66. Our resistance level to be exact is now around 19.635. Bounce towards that level is a short for those not in. SL can now be today's high so far

تعليق:

Low today of 19.04. Narrow moves last 2 days.
FOMC tmw should drive higher volatility. Enough opportunity to hedge / adjust stops today

أغلقت الصفقة: تم الوصول لوقف الخسارة:

SL would have been hit today. Was hinting at adjusting stops or hedging yday. Status update. Resistance at 19.635 has now flipped to support around 19.08. If we get close will need to see if there is something to do