SILVER (XAG/USD) – Week 15 – Pullback or new low?
As we mentioned in our previous analysis, Silver slowly started to give some signs of a possible reversal.
For this week, we expect the price to pullback towards our orange dotted line, and then we will make a decision if we will make another low or not, based on the price action. If not, this may be a simple pullback that will act as a trigger for a future bullish move.
Don’t forget that we are in a strong weekly bullish trend and this is only a correction. In the medium-term, we expect the price to reach at least the $35 level.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
For this week, we expect the price to pullback towards our orange dotted line, and then we will make a decision if we will make another low or not, based on the price action. If not, this may be a simple pullback that will act as a trigger for a future bullish move.
Don’t forget that we are in a strong weekly bullish trend and this is only a correction. In the medium-term, we expect the price to reach at least the $35 level.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Trade closed: target reached
Related Ideas
