(XAGUSD) Silver
I am bullish precious metals. Gold has double bottom, silver at key trend-line down on daily - a bullish close above = further bullish movement to continue.
Technical view:
Support - 25.82500, 25.73400, 25.40565
Resistance - 26.60290, 26.71985, 27.26100, 27.93650
Pattern - Longer term - Inverse H&S Shorter term - Wedge
Here is where things get interesting:
Break above 26.71985 expect further bullish continuation
Break below 25.73405 200 EMA expect bears to gain control to perhaps product Head for Inverse H&S.
Key tip: An undeveloped traders treat the market like a lottery ticket but a mature trader treats it like a business.
Trade Journal
(Just a trade idea, not a recommendation)
I am bullish precious metals. Gold has double bottom, silver at key trend-line down on daily - a bullish close above = further bullish movement to continue.
Technical view:
Support - 25.82500, 25.73400, 25.40565
Resistance - 26.60290, 26.71985, 27.26100, 27.93650
Pattern - Longer term - Inverse H&S Shorter term - Wedge
Here is where things get interesting:
Break above 26.71985 expect further bullish continuation
Break below 25.73405 200 EMA expect bears to gain control to perhaps product Head for Inverse H&S.
Key tip: An undeveloped traders treat the market like a lottery ticket but a mature trader treats it like a business.
Trade Journal
(Just a trade idea, not a recommendation)
Trade active
Comment:
At nice support area! A break below we could form another shoulder then I'd add a further position if not we may rise further next week! However, for now we are in the range! PATIENCE IS KEY.
Comment:
NEXT - high 27 areas!