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AlbionTrader
Feb 21, 2017 8:57 AM

XAGUSD looking for LONG Long

SILVER / U.S. DOLLARICE

Description

XAGUSD has been consistently growing on the Weekly timeframe:


We closed last week with an indecision bar; however, the fundamentals should point higher and the Daily timeframe is still on an upward trend, so this might be a physiological retracement.


Let's see where the 4-hour chart brings this moment of indecision to see a clearer direction, which could make the price rebound to the upper trendline (also just below the 50% Fibonacci) somewhat below 18.40

The main trendline (violet in the chart) should anyway hold on the Daily.
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