Tom_Killick

#XAGUSD: Seeing Legitimate Bearish Demand At Key Level- Lows?

FX:XAGUSD   Silver/U.S. Dollar
162 0 11
Traders,

Seeing some nice bearish momentum picking up at the lows of XAGUSD             . As we can see, we had a pullback which lacked substance, which gave us a nice retracement, failed at the 50MA, and we can see clear bear demand in the form on a bear engulfing signal which will loikely break us out of the pennant pattern we currently have.

This could be part of a 3 wave system we will have to see how it goes in the future, but for now I'm feeling good about this one and I'm sure we will see the lows being hit soon, and if we break the demand zone which we are very near to, we could see some very good lows.

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