Silver has been consolidating between MA(50) and MA(100) for weeks now.
Last week it had a breakout to the upside upwards 26 that was false so its back into the consolidation pattern.
Since then DXY has strengthened and SPX has topped and turned potentially bearish, therefore the chance is higher for a breakout to the downside this time.
MA(200) should provide strong support on the downside.
Last week it had a breakout to the upside upwards 26 that was false so its back into the consolidation pattern.
Since then DXY has strengthened and SPX has topped and turned potentially bearish, therefore the chance is higher for a breakout to the downside this time.
MA(200) should provide strong support on the downside.