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Silver – Waiting correction for Short

Silver – Long-term trend –  Short.  Mid-term movement is also descending.

50,100 and 200 EMA intersect, giving us a sell signal.
MACD also gives us a signal for the continuation of the descending movement.
The previous bottom at price 16,14 was broken

Currently the price is at corrective level of 61.8 of Fibonacci and it is risky to open new short positions.
Best place for entrance will be to wait for a correction to the horizontal resistance and new bearish signal to open short position.

Trade in the direction of the trend, as target can be accepted levels around 15.46.

 


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