Silver (XAGUSD), in 4H Tech Analysis Training look like this:
The XAGUSD pair has made a decline below the KUMO from 23.07.2014 and now consolidates having breached the resistance red line.
MACD is weakening its bullish trend and RSI is near 39. All these signs make me think bearish as the pair is under of all the ichimoky indicators. In addition Chikoun Span is without any support.
Fib projection from 21.4 to 20.6 shows 2.618 at 19.4.
Short for 19.5 first with stop loss if it stabilizes above 20.
The XAGUSD pair has made a decline below the KUMO from 23.07.2014 and now consolidates having breached the resistance red line.
MACD is weakening its bullish trend and RSI is near 39. All these signs make me think bearish as the pair is under of all the ichimoky indicators. In addition Chikoun Span is without any support.
Fib projection from 21.4 to 20.6 shows 2.618 at 19.4.
Short for 19.5 first with stop loss if it stabilizes above 20.
