Bulls be careful

riskOmeter Updated   
TVC:SILVER   CFDs on Silver (US$ / OZ)
Friday's price action
a) brought the price precariously close to the descending triangle breakdown
b) Trendline recapture miserably failed and confirmed the breakdown

Both (and 2 other EW based factors) points towards price reaching green zone after break of blue zone.

The momentum oscillator is also no-where near the oversold zone and indicating some more downside possibility.

Lets see how this develops further.

Happy Trading !
Breakdown confirmed with a 4% + move

Rejection from the breakdown level.

Has the next leg down started, we will see as the days progress.

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