Bulls are getting ready in Silver?!?
Updated
Yes, it seems like the bulls are getting ready to attack!
IF the silver price overcomes the 23.6 % Fib level and 50's MA with a sustained close around 23.30 USD, it would be time to fasten your seat belts.
IF XAG/USD doesn't overpower this critical resistance area and is making a move to the south, I would take another short trade into consideration. But this situation needs to be re-evaluated.
IF the silver price overcomes the 23.6 % Fib level and 50's MA with a sustained close around 23.30 USD, it would be time to fasten your seat belts.
IF XAG/USD doesn't overpower this critical resistance area and is making a move to the south, I would take another short trade into consideration. But this situation needs to be re-evaluated.
Note
Alright - the bulls are in charge now!Note
So, textbook-like correction. Looks like the local low is in. If the support holds we go from this sideways and up, up and away ... ;)Note
After the SMA 200 got tested and rejected the price it's dropping hard. Your SL should been hit already if you were long. ATM it's on the point of decision: If the 23 USD fails to hold the price - the former low will be challenged. And also a drop further is then still on the table. So take care. If 23 USD gives enough support it could be an inverse SHS chart pattern which is a very bullish sign for silver ...s3.tradingview.com/snapshots/m/m2h8Ymrv.png
Note
Don*t looks good. Probability is hight that we see the 21.50 USD again ....
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