Silver Elliottwave Followup: Looking for 16.90

Silver Elliottwave Followup: Looking for 16.90

31 May 2017, 07:54
hoagtrading
0
48

Talking Point:

  • Technical Strategy: Turning Bearish
  • Elliottwave View: Progressing reversal.

Analysis

Silver tested it's weekly trendline resistance after having triangle formation (flag pattern). Instrument is able to break it's temporary bullish line on hourly and 240 min charts and able to trade below. As we can see on chart, it got first support on 17.20 area post that it jump to test it's broken trendline continue reading

Action
Shorted pair @ 17.44 with 18.00 stoploss. 1st Target will be 16.90.
Share it with friends: