Silver with 16usd in sight

2019년 11월 10일

Last week was very bad for Silver, erasing 5 weeks of gains, and losing approx 1.5usd of its value.
From the technical point of view, Silver broke the ascending trend line that maintained the price from the beginning of June and also the horizontal support, both laying around 17.50 and now the price is also under the last low of 17usd.
We believe the price would continue to fall at least till 16USD.

Strategy:
Sell rallies above 17USD
Target around 16USD
A daily close above 17.50 will negate our view