The down trend on silver continues - sell signal from resistance levels

Silver H4 Our Expectations: Decreasing medium-term trend, correction to horizontal and diagonal resistance. Ability to short positions with stop 15.00

Alternative Scenario: If the price rises and stays above the trendline, the adjustment may continue. If a new local maximum is formed (over 14.95), a 50% Fibonacci test will follow, with the 200 period being near this area.

Comment: Decreasing medium-term trend. Correction to horizontal and diagonal resistance. At these levels is also 38.2% Fibonacci of the movement, measured from the peak of 21 March to the bottom of 2nd May. Formation of a double top at levels around horizontal resistance - a fake breakaway of the diagonal trend of the downward movement and returning the price back below the trendline - a signal of unsuccessful breakthrough on the part of the buyers, and the price is again back to the negative trend. 50/200 MAs are in bear formation. Price below 50 / 200 MA - downward trend signal. CCI 50 under 0 - proof of bearish trend. RSI 14 also below 50 - signal that the short-term correction is over.

Entrance: For more conservative traders, we expect a 30% correction of the down movement from the last two bear bars and entry shorts around 14.86. Stop - 15.00

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