Silver (XAGUSD) || Update | July 03, 2024
Timeframe: 4-hour
Current Situation: Silver is exhibiting a falling wedge pattern on the 4-hour timeframe. This pattern often precedes a price breakout in the direction opposite the wedge's slope (upward in this case).
Analysis: The falling wedge suggests potential for a bullish breakout, with a target zone ranging from 1800 to 2400 points if the breakout is confirmed.
Key Level: The resistance level to watch is 22600. A sustained move above this level would solidify the bullish breakout scenario.
Disclaimer: This analysis is for educational purposes only and should not be considered financial advice.
Timeframe: 4-hour
Current Situation: Silver is exhibiting a falling wedge pattern on the 4-hour timeframe. This pattern often precedes a price breakout in the direction opposite the wedge's slope (upward in this case).
Analysis: The falling wedge suggests potential for a bullish breakout, with a target zone ranging from 1800 to 2400 points if the breakout is confirmed.
Key Level: The resistance level to watch is 22600. A sustained move above this level would solidify the bullish breakout scenario.
Disclaimer: This analysis is for educational purposes only and should not be considered financial advice.