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Mihai_Iacob
Dec 4, 2020 8:07 AM

Silver could drop Short

SilverOANDA

Description

In yesterday's comment I said that 24.40-24.50 is the line in the sand for Silver and as we can see from the chart, XagUsd stopped its ascent just under this level.
Similar to Gold we can have a correction also here and a drop under 24 should clarify things.
23.50 and 23.00 could be good targets for bears with 1:3 R:R in the case you target the later.
On the other hand, a break above 24.50 would call for a 25 zone test (trend line)
Comments
ProjectSyndicate
got a similar outlook myself. spot metals are entering correction now.
this was just a bounce.
InkyGrip
nice chart! thanks! 🦐
Mihai_Iacob
@plancton0618, thanks! Let s see now, if it turns from 24.50 zone
Fisher_Fx
great analysis bro thanks
Mihai_Iacob
@Fisher_Fx, thank you:)!
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