Short Term Bearish Pressure On - Potential Breakout Setup
Although I'm generally a bull on physical PM's, the paper prices are still bearish and in the intra-day 1hr charts are suggesting another attack on 21.35 is underway. Rallies continue to be sold and the dynamic resistance and 4hr 20ema shows the sellers are happy to take higher prices to sell again.
If the 21.35 level breaks, then look for a breakout retest setup on this level to get short targeting 20.45 and potentially much lower prices as the recent rally from $19 - $25 is in jeapordy.
If the 21.35 level breaks, then look for a breakout retest setup on this level to get short targeting 20.45 and potentially much lower prices as the recent rally from $19 - $25 is in jeapordy.