XAGUSD the price broke below the 2MO uptrend channel and backtested it as resistance on Friday. 26.65 is resistance a pullback to this area would be a buying opportunity. We take a SELL position with stoploss at 28, target 26.70
XAGUSD (Silver) is climbing the ladder towards $50. As we can see on the chart we made a perfect retrace to the 0.382 fib. level which has acted as resistance. Now our first target is $30. If we manage to close above this level the real bull market has started😎
We have taken a long position on 27.50.
XAUUSD (GOLD) made a weekly breakout above the 9 month downtrend channel and made a perfect retracement last week to the 50MA.
We have taken a long position just above the 50MA expecting the price to rise from this point. Nothing goes straight up but the higher highs and higher lows on the chart are very bullish signals. We may see the 2200 price very soon. 😉