KenPTrading

Silver back tested the long time support on the Daily

Long
OANDA:XAGUSD   Silver / U.S. Dollar
Silver backtested the long time support on a daily and ready to break out to 31 and above looks primed with more stiulus incoming. Silver broke out of the long-term resistance at approximately 25, backtested, and held above 25 which is extremely bullish, and with the macro suggesting a lower dollar, silver and PM are primed to move to ATH and above. Silver will break out to ATH and the medium-term target EOY 2021 is around 61 and long term is 150 by 2025. Silver use cases have also increased with ESG on the rise and Silver's use in EV batteries solar panels. A good entry with low-risk stops can be placed around the 24.35 area. Silver miners are also looking good.
Not financial advise. Do your own DD.

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