XAG/USD – Week 2 – Sell-off to continue

Silver price depreciated last week more than 10%, the main purpose for this massive sell-off being the increase in the U.S. Treasury Yields and a strong U.S. Dollar. The Weekly chart for Silver indicates that a stronger bullish trend has started on the Weekly timeframe, but as we forecasted in our last week analysis, the price must come down in order to go back up again. For this week, we expect the selloff to continue and with this in mind, avoid jumping in any trades and patiently wait for your setup.
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: target reached