Silver is at a strong support of 15.000. You got the daily 200 MA right there on support. Here is my thought process... we got a bearish channel forming at the moment so logically people might short it, BUT as you can see, price as rejected that level quite a few times. I would not go long unless we break and retest that channel. The blue levels are zones to watch for bounces so you could take some partial profit on the way if we got a bounce. Now, if we break down, I think we got alot of spaces to fill. My hope is a break down cause we could get alot of momentum and selling pressure. Wait for a break-retest-reject to enter. Do not be greedy and get caught by a fake breakout.
Comment:
we broke down as anticipated