Silver – Trendline Breakdown Signals Potential Bearish Continuation

[John David]

The 4H chart shows that price has been declining in a falling wedge. To some, this is not a bearish structure. However, the price action, the moving averages and the RSI all reflect a market that is turning bearish. If price pushes back above 17.25, then silver would be above the falling wedge and the 200-, 100-, and 50-period SMAs. This scenario would cast doubt on the bearish continuation outlook, and if price starts to hold above 16.75, we might have to consider a bullish outlook. http://www.fxpips.com/silver-trendline-breakdown-signals-potential-bearish-continuation/