Silver 19.07.2017
Our expectations: Middle-term downtrend - lower tops, short-term upward trend. The price reached horizontal resistance and did not managed to break above it. The sentiment for Silver remains negative. The slowdown of Chinese economy and the Supply/demand curve is highly negative for the metal.
Alternative scenario: If the price breaks over FiBo 50.0, the negative scenario will be dismissed
Comments: Price action signal: Pin bars at level of horizontal resistance. Technical indicator: DeM(14)- turned down from a zone of overbought - negative signal. CCI(50) - Also in zone of overbought- when break below level 100, the positive sentiment will weakens.
SL: 16.50
Trader Bozhidar Arabadzhiev
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