FUNTRADER-Vera
Long

0711 XAGUSD going to test 15 again soon

FX:XAGUSD   Silver / U.S. Dollar
Assuming the blue channel is still valid .
And its just finished its correction on the middle position of the long green candle.

The purple one is the end of the wave 3.
So xagusd             is now targeting 15 now .
The reversal just start.

Less is more!
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Disagree. My range $13.9-$13.1 with closer to $10 possible long-term.
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Euro could have another 100pips rally, therefore supporting metals in the very short term.
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@howard1127, hmm, I think on daily chart, EURO is bullish now .
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though we could see a quick short cover to $15 level, fundamentally metals sector still have lots work to do
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@howard1127, I think $15 has a bigger chance.
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howard1127 FUNTRADER-Vera
@FUNTRADER-Vera, sure while $15 is achievable on a short squeeze, but a sustainable break above $15 requires some fundamental change.
but with trade war, upcoming fed hike, year-end tax loss selling, it's hard for me to see it break above $15 and stay above.
maybe you are right, im just focusing more on fundamentals than just look at chart and price action. =P
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howard1127 FUNTRADER-Vera
@FUNTRADER-Vera, the best bet for a sustainable close above $15 is if they strike a trade deal with China, which i very much doubt at the moment..but who knows...Trump is full of surprises...
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i actually see $14 retest first. Still a lot of headwinds fundamentally for the metals imho..
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@howard1127, while $14 less.
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