SILVER Is Bearish! Short!

Please, check our technical outlook for SILVER.

Time Frame: 5h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The market is trading around a solid horizontal structure 28.764.

The above observations make me that the market will inevitably achieve 27.302 level.

P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.

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Kommentar:

I am confident in this trade so I will keep it open!