FX.co ★ Silver Breaks Down... More To Follow... Stay Short

Technical Outlook and Chart Setups:

It seems that yesterday there was just a beginning for the expected pullback in silver. Nothing has changed, as shown above, since last 4 trading sessions. Immediate resistance remains at 34.50 level. Until the prices remain below that, it is pretty clear that bears shall remain in control dragging prices down to potentially 30.00 level, if not lower. Please take into consideration the back side of dropping trendline which passes along 30.50 levels right now. It is potential support as well. For now, remain short.

Trade Recommendations:

Remain short, stop at 34.50, target open.

Good Luck!