Technical Reasons :
Head and Shoulders ( Right shoulders forming )
Quasimodo level ( Over and Under, Short trigger area reached )
Ichimoku Bearish Cross Over ( We are still above cloud though )
Set up remains valid unless we get a close above past weekly high
Fundamental Reasons :
A good GDP growth in USA would raise bonds yield and hence bad for Precious metal
A bad GDP would imply recessionary bell, at the beginning of recession Precious metal suffers and yes silver would have less industrial demand
Positive trade deal news also bad for Precious metal primarily
Limitations
Some might perceive this as a bounce from ascending channel and also price rising back above Daily 10 EMA. I am discounting this aspect based on structures i have seen on the past. But any fundamental risk events can easily take it near psychological level of $20.00
Head and Shoulders ( Right shoulders forming )
Quasimodo level ( Over and Under, Short trigger area reached )
Ichimoku Bearish Cross Over ( We are still above cloud though )
Set up remains valid unless we get a close above past weekly high
Fundamental Reasons :
A good GDP growth in USA would raise bonds yield and hence bad for Precious metal
A bad GDP would imply recessionary bell, at the beginning of recession Precious metal suffers and yes silver would have less industrial demand
Positive trade deal news also bad for Precious metal primarily
Limitations
Some might perceive this as a bounce from ascending channel and also price rising back above Daily 10 EMA. I am discounting this aspect based on structures i have seen on the past. But any fundamental risk events can easily take it near psychological level of $20.00
Comment:
Trump comments on china not operating on trade gave support for now, lets look out of for GDP
Comment:
Trump is back with positive china comments, taking partial profits at $17.250.. looking for GDP tomorrow for better price
