Silver reversal pattern could be activated below 22.786 [Video]
|XAG/USD changed little in the short term and now is trading at 22.982. The price action signaled exhausted buyers but a downside movement still needs confirmation. Today, the US CB Consumer Confidence could bring high action in Silver. Better than expected US figures today could push the price of silver toward new lows.
Technically, the XAG/USD failed to stay above the Rising Wedge’s upside line signaling exhausted buyers. Now, it has taken out the uptrend line but only a new lower low, a valid breakdown below 22.786 validates a larger drop.
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