On the 4-hour chart, XAGUSD has formed a head and shoulders bottom pattern. Currently, watch for resistance around 49.4; a break above this level could lead to further upward movement, with resistance around 50.5, and further upside potential in the 51.5-52.7 area after that.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.