FX.co ★ Silver Breakout Near To Completion

Technical Outlook and Chart Setup:

The breakout above 28.50 has materialized in the past weeks as expected. Now, as depicted above, prices are just near the 0.618 Fibonacci resistance level for the metal. The rally from 26.00 level seems to be in 5 waves till now, hence a 3 wave correction should be materializing soon enough. It is recommended to exit long positions taken earlier and prepare to sell at the moment.

Trading Recommendations:

Go short now at 33.80 level, stop at 34.50, target open.

Good Luck !