FxWirePro Call Review: Maintain short positions in Silver; final target further extended

In July we called on our readers to go short on Silver at the then current rate of $15.8 per troy ounce with a target of $14 per troy ounce area citing unfavorable fundamentals, which are a stronger dollar and rising interest rates, https://www.econotimes.com/FxWirePro-Short-Term-Outlook-Sell-Silver-targeting-14-per-troy-ounce-1403001

Since our call, the selloff in Silver had further intensified and based on our calculations, we extended the target from $14 per troy ounce to $12.75 area as we suspected that in addition to the above-mentioned unfavorable fundamentals, a slowdown in China thanks to U.S. trade war would be very bearish for the metal as it has long been the major consumer, https://www.econotimes.com/FxWirePro-Call-Review-Maintain-short-positions-in-Silver-target-further-extended-to-1275-1416989

In the last review, the target was further extended to $12.25 per troy ounce. Since that review, riding on the weakness of the USD, the price of silver entered correction mode after reaching the target of $14 per troy ounce. We also suggested the stop loss around $15 area.

In this review, based on the latest calculations, the final target is now extended from $12.25 per troy ounce to $10.8 per troy ounce area.