Silver Confirms H&S Top

Friday saw prices close below the upward sloping neckline confirming a bearish head and shoulders top pattern.  The target is ~ 16.134.  However, there is stiff support coming up between 17.514 and 16.955.  This zone contains its monthly pivot, its 34 EMA wave, and a fib cluster containing symmetry.  I wouldn't be surprised to see prices stall in this zone, retest the neckline, and then move lower.  Longer term, this market remains bullish if it holds 16.45.  But this market is definitely a bit overbought and has already seen a bearish crossover on the MACD.  I think this pattern has a good chance of success.

Chart_20-06-13_20-08-46