BitonGroup

Silver (XAGUSD) Analysis 04/03/2021

Long
OANDA:XAGUSD   Silver / U.S. Dollar
this is a 2 Day Candle Chart

as we can see the Price is up Ranging in a Yellow Ascending Parallel Channel where currently it is trying to break the lower bond.

there exist a Fibonacci golden zone of the smaller impulsive wave, which can show Support and if the price bounces from it then we can target the 1TP, which is Fibonacci Expansion -27% level of the main Bullish Wave.

the Red Box (Fib Confluences Level IMPORTANT) is the confluences of the 76.4% Fib Retracement of Smaller Impulsive wave and 38.2% Fib Retracement of the main bullish wave, where if the price falls and it stands as a support and bounces the price, then we can target the 2TP , which is the -61.8% Fibonacci Expansion Level of the main Bullish Wave.

there are 2 Vertical Lines which Shows the Speculated Dates for Achieving the Specified Targets, they are specified by Trend-Base Fibonacci Time,
there are total of 2 TPs Specified
1TP=35$
2TP=41$

please comment your Opinions...