XAGUSD and XAUUSD havehed a decent down-turn this week... but some relief on the upside might be due!
Our system says there is a good chance, as long as we break above on the 10m chart and make a higher high on the recent 1H movement.
All of the indications remain bullish for us right now.
- 38.2% rejection
- Possible higher low
Looking at the silver chart we observe a bull flag forming. It would have been best if it only corrected 50% of the recent trading range - making a perfect bullish pattern, however it is still moderately bullish. I mentioned yesterday that this week 26.3 is the target - we have already seen 26.6 - roughly a percent off the target. We could still see 26.3 tomorrow...
Silver has recently tried to settle below $27.00 but received material support at $26.70 and moved back above $27.00. As a result, silver continues to trade in the range between the support at $27.00 and resistance at $27.50.
If silver manages to settle below $27.00, it will get to another test of the support level at $26.70. The next support level is located at...
this chart clearly shows that silver is growing. due to the declining US dollar index, it is likely to grow at least until the next silver target, which will definitely be higher than the $28 target.
we are waiting to see the results. I am happy to share your comments with me and if you agree with my opinion, like it.
Silver is currently trading in the range between the support at $27.00 and the resistance at $27.50. If silver manages to settle above $27.50, it will get to the test of the next resistance level which is located at $27.75.
In case silver gets above the resistance at $27.75, it will head towards the next resistance at $28.30. This move will indicate that silver...