Chart of The Day $Silver 1-19-2017

On the Silver daily chart, we can see that the instrument is showing signs of weakness near the 100 SMA 17.65 level. Also, there is a downside Pitchfork channel formed and 17.20-17.50 zone is strong upside resistance. Silver need a daily break below 16.50 for continuation lower. Invalidation of medium-term downtrend will be only in a case of the break above 18.

Happy trading! (click on the chart to enlarge it)

silver trend following strategy



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