SILVER (XAG/USD) – Week 3 – More bears to gather at the party.

February Silver futures traded lower last week, off 3.8% to $24.75. As mentioned in our previous Silver analysis, we expected a price consolidation to back-up the previous descending impulse, together with the high bearish move probability that it’s on the cards. From a technical perspective, this price devaluation is required in order for the bullish weekly trend to gather more momentum, with a high chance that we can be heading towards $21 levels.
Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.

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