Silver is falling into Support Area, Two Scenarios: Break the descending trend line, stand over it: Reverse Being pressed by descending trend line, breakdown the support line, and keep falling.
For the current signals, 1st scenario has higher probability, let me say, 70%.
Indicators: 9 Seasons Rainbow Multiple Time Frames Pattern PRO RSI
Signals: Bullish Divergence (Oversold, Support, Blue) on 3H. Failed Bullish Divergence ( Crazy Sold, Fuchsia) on 16H, which means the previous support was broken.
DISCLAIMER This is only a personal opinion and does NOT serve as live trade call NOR trading advice. Please make their own decisions, carefully assess risks and be responsible for your own investing and trading activities.
評論
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As an effect of strong USD, gold and silver go weak. Silver has broken down the previous support, Blue -> Fuchsia.