XAGUSD (Silver): Long term Buy opportunity on Symmetrical Target
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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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.
** If you like our free content follow our profile (www.tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial