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MEX_Exchange

Silver testing major resistance, watch for bullish move

Long
Silver / U.S. Dollar (FX:XAGUSD)  
MEX_Exchange  
FX:XAGUSD   Silver / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns Silver silverlong silvershort silveridea XAG USD ( Silver / US Dollar) xagusdlong xagusdshort xagusdidea xagusdtrade
95
0
trendanalysis harmonicpatterns chartpattern silver silverlong silvershort silveridea xagusd xagusdlong xagusdshort xagusdidea xagusdtrade

Buy above 17.31. Stop loss at 17.16. Take profit at 17.48.
Reason for the trading strategy (technically):
Price is now testing major resistance at 17.31 (Fibonacci retracement, horizontal overlap resistance) and we require price to close nicely above this level before triggering a bullish move that should push price up to at least 17.48 resistance (Fibonacci retracement, horizontal overlap resistance).
RSI (34) sees an ascending support line hold up our bullish move really well.

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