Silver was uptrending in previous weeks but it has faced rejection at crucial levels and currently there is breakdown of support in silver with RSI below 60 levels.
Silver is kind of swing instrument which means it will swing between resistance and supports and as a trader we should sell at resistance and buy at support.
Silver is trading below 5 EMA with RSI below 60 levels which shows it is corrective phase which may form A-B-C wave as per elliot wave principle.
Silver is kind of swing instrument which means it will swing between resistance and supports and as a trader we should sell at resistance and buy at support.
Silver is trading below 5 EMA with RSI below 60 levels which shows it is corrective phase which may form A-B-C wave as per elliot wave principle.