Silver Looking to Continue Down

2 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

Silver is in a downtrend and the continuation down is expected. It also correlates with gold which is super bearish last months

26.80-93 is the zone where new sellers might join. We can also see a sort of consolidation in H1 timeframe so breakout is expected. A move down off the POC zone will target 26.34 followed by 25.52 and 25.06. Only a  move above the W H3 camarilla pivot 27.25 will make bears weaker. I don’t think it will happen as today is Thursday so the weekly pivot might hold.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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