SILVER (XAGUSD): Bearish Correction On The Horizon
Following a strong upward trend last week, Silver has now paused its growth and is consolidating.
There is an Indecision pattern forming, specifically a symmetric triangle, on the 1-hour chart.
The price is currently testing the boundaries of this pattern.
I predict that if there is a bearish breakout, indicated by a 1-hour candle closing below the support line, we could see a downward correction towards the nearest support level at 30.20.
Alternatively, if the price breaks and closes above the resistance line we will anticipate a bullish continuation.
There is an Indecision pattern forming, specifically a symmetric triangle, on the 1-hour chart.
The price is currently testing the boundaries of this pattern.
I predict that if there is a bearish breakout, indicated by a 1-hour candle closing below the support line, we could see a downward correction towards the nearest support level at 30.20.
Alternatively, if the price breaks and closes above the resistance line we will anticipate a bullish continuation.
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