XAGUSD - Pullback before a new push up...

FX:XAGUSD   Silver / U.S. Dollar
38 0 1
Silver             currently initiated the pullback movement to the $18 area, corresponding to the 50% Fibonacci retracement level from the lows at the end of the month of May to the highs of the beginning of July, and coinciding with two up trend lines . Also around the end of May, the weekly long term GMMA (blue group of EMAs) crossed and started to expand upwards, indicating a high probability of more up moves for Silver             . If the $18 area holds and taking in to account the information from the GMMA, chances are that price could reach the $25 area, corresponding to a long term support/resistance area and the 127% Fibonacci extension of the pullback.

Let see what happens.

Happy trading all!
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