SILVER (XAG/USD) – Week 7 –Bearish scenario.
Silver ended the week in the same place as it started, with the market developing a consolidation that we were expecting to unfold as per our past analysis.
In the coming week we expect this sideways move to come to and end and continue the downtrend that can push the price towards the $24 area. Keep an eye on the “bearish sweet spot” that we highlighted on the chart as it could be a nice area to place your sell orders.
Don’t forget to respect your strategy and always keep your risk small.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
In the coming week we expect this sideways move to come to and end and continue the downtrend that can push the price towards the $24 area. Keep an eye on the “bearish sweet spot” that we highlighted on the chart as it could be a nice area to place your sell orders.
Don’t forget to respect your strategy and always keep your risk small.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Trade closed manually
