Silver Heavy as Falling Wedge Pattern Forms

Silver continues to drift lower amid dampening demand for safe haven assets. On Monday, equity markets were boosted by signs that the U.S. and China are nearing a trade deal after months of negotiation.

Zooming out to the weekly silver chart we can see that it is in a major downtrend, which adds to the bearish scenario if price can break out of the falling wedge to the downside.