XAGUSD (SILVER) Outlook

16 may 2021Silver technical outlook shows different form of technical analysis pointing towards an emerging bearish outlook. On the chart above, we were able to spot an emerging BEARISH SHARK formation, a HEAD and SHOULDERS pattern and a price RESISTANCE zone. A reversal candle formation between the region of 27.900 - 28.900 will signal a reversal. If the scenario is true, price is expected to fall to the NECKLINE @ 23.700 and lower. A break above 29.000 invalidates the count.