XAG/USD: Rising Wedge Threatens to Snap as U.S. Dollar Finds Its Feet

From forex.com

Silver’s bullish run may be coming to an end. Sitting in a rising wedge and with momentum indicators rolling over, the ducks look to be lining up for a potential downside break. Throw in signs the U.S. dollar may have bottomed—an adversary to commodity prices—and the unwind could be sizeable, especially if risk appetite were to evaporate. chart If silver were to break beneath wedge support and hold there, it would allow for shorts to be established with a tight stop above the level for protection. $35.50—where the price bounced strongly from on June 12—screens as an initial target. If broken, it would ... (full story)