InvestingScope
Long

XAGUSD (Silver): Long term Buy opportunity on Symmetrical Target

FX_IDC:XAGUSD   Silver / U.S. Dollar
Silver delivered our expected aggressive bullish break out as posted on the idea below on December 9, 2019:


On this uptrend the Symmetrical Resistance levels seem to play a key role as investors seem to be taking profits on every test of those levels, pushing the price lower. The first level of Resistance was 18.110 and the most recent one 18.750. At the moment the price is on the pull back/ rejection of that Resistance level . We are expecting the 1D MA50 (blue line) to provide adequate Support for a rebound towards the next (and final) Resistance level at 19.600. The optimal entry level will be once the MACD makes a bullish rollover.




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