lucamodena
Long

One more time SILVER. Monthly perspective.

FX:XAGUSD   Silver / U.S. Dollar
Hi All,

Once again my extremely bullish view on silver , but this time from a monthly chart perspective.

The price action is approaching the 200 MA which will act as a strong support and the price will probably bounce from it like from a trampoline.

What is more the price of silver retraced from it's ATH to the 78,6% Fibo level - it already bounced from it 3 times and now it is preparing to take-off.

We are currently in a quite narrow tunnel with it's resistance at around 18.4 $ and support at 15.6 $. If we manage to break the 18.4 $ resistance level the doors to heaven will be opened.

Last but not least, if you use the BB indicator you will be able to see that the bands are narrowing - which means that the price is setting up for a strong move!

Hope it helps.

All the best.

Comments

Very persuasive analysis. Big time setup. Thank You!
+1 Reply
@Bo, You are welcome! Wish you a lot of profits ;)
Reply
question of when, not if.
Reply
@Lanmar, I can bet it will take place before the end of this decade (2020). Accumulate.
Reply
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