XAGUSD is trading around the $30 price level for the first time in years. Is there a trade here? Could we see $40 by EOY? Let’s draw some charts:
We're trading in a Bullflag at the $30 level
Triple top, we're not quite ready to hold above the level
Find nearby price targets
Establish long term support lines
Use momentum indicators and price action to draw a reasonable path which engages the price structures you've established.
So according to our charts, we should expect a bounce above $27 Be mindful, there are exogenous events that push the price around. Shifts in the macro landscape will impact the path price takes.
Alright, its been a couple of months - time for a Silver update.
It looks like XAGUSD is following our map. We just experienced the anticipated pullback from the $31 level (in yellow) we marked in July. We're watching the price to see if we bounce from the horizontal $30 level or if we need *one more* higher low before taking off! Regardless, we're on track for our break above $30, with a strong chance we can run towards $35+ depending on Fed decisions and whatever US election or geopolitical shocks we see before EOY. Keep stacking, folks!
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.