Some thoughts on silver

Fawad Razaqzada TradingCandles.com

A lot of people are presumably waiting for silver to get back down to re-test broken breakout area around $19-$20, before loading longs again.

If silver gets there, it would be a bearish sign IMO and I would only expect a modest bounce there.

Indeed, in strong trends, you want to see shallow retracements instead.

So, what I am looking for is this: for silver to go back above the low of August circa $23.40. Doing so would be trapping the breakout sellers.

IF silver goes back above that level then looking for new longs would make sense on the lower time frames.

My subscribers have a clear plan laid out for them on the hourly chart of silver.

Author

Fawad Razaqzada

TradingCandles.com

Experience Fawad is an experienced analyst and economist having been involved in the financial markets since 2010 working for leading global FX, CFD and Spread Betting brokerages, most recently at FOREX.com and City Index.

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