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 bring uptrend ...
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