isarnil
Long

XAG/USD bottoming out - waiting for turn north

FX:XAGUSD   Silver / U.S. Dollar
Silver is close to strong support levels of the last few months. Has not bottomed out entirely, which leads us to two possible conclusions:
1. Wedge is tightening for break-out.
2. An anticipatory consolidation before bottoming out and rushing north.

Stochastic is somewhat implying that price momentum has already turned bullish despite two bearish closes last two days. Price-action monday morning will determine what it's intentions are.

Risky move: take position based on action - if bullish , bullish ; if bearish , bearish .

Safe move: await close above resistance or at support. A very high probability of profitable trade.
Comment: Let's see what happens tomorrow. If this settles at around 15.500 to jump up it could be a nice entry point.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out