Silver (XAGUSD) About to Reverse? Forex Trading Short on WTI. Gap Trading the DAX 40.

We know a lot of you like to trade silver and we are wondering if this bull run may have peaked.

We may be seeing the formation of a double top with the neckline at $30.

Also, the stochastic oscillator is overbought and MACD might be turning bearish at any moment.

Watch for the signal line to pass out of the histogram like it did 11 days ago.

If we zoom out to the 4-hour chart we see bearish signs already but we would like to see price action break this lower trend line.

Also, we are seeing a lot of USD strength in most pairs so Silver and Gold may follow.

Speaking of which, in our last video we pointed out short opportunities the DAX, EURUSD and AUDUSD.

Look what happened!

In fact price action on the DAX opened with a huge gap to the downside, below the lower trend line.

Let’s see if buyers can fill the gap.

We see the downtrend on WTI continuing with price action bouncing off the upper trend line.

On the downside, we have support at $30 and, if we break that, we have this lower trend line.

That’s all for now.

CFDs and FX are leveraged products and your capital may be at risk.