Silver@ Bearish Butterfly Completion At Key Resistance Level

After a sharp rally price in silver is testing a long term resistance level. At that level we have two very important factors which makes me believe that price will sell off. First, we have a completed butterfly pattern (price almost touched the 1.27 level but it's valid to me). At the same resistance level we have a completed 5-3 elliott wave cycle with C wave in the 0.5 - 0.618 fib zone of the 5 impulse waves.

Silveris still in a downtrend and setups like this one are worth involving.

Long term resistance:

Like and comment,
John.

Giao dịch được đóng thủ công:

I will close this trade manually as i expect a pullback