albert.callisto
Short

XAGUSD - Divergence, bearish?

FX:XAGUSD   Silver/U.S. Dollar
60 0 6
RSI
Daily RSI shows some divergence, the price has hit a resistance area . It is likely to retrace towards the lower side of its ascending wedge . If it manages to break it, it could head down the upper cloud area. A break of RSI at 50 and then of the RSI trend line itself would give more weight to a shortish trade with entry around 15.6 and TP at 15.0.

Ichimoku
The lagging span is just above the early Feb candles. Just under the price, there's a huge hole formed by the cloud that provides no support. The lagging span would have no problem going through that area and the associated twist in case of a dive. The Kijun in the past indicates that 14.8 is a key level and this is the current SSB             level as well. If this level is broken, the next target would be 13.6.

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