Silver- Obvious Head and Shoulder pattern, with great potential!
Hi guys, today we are overlooking Silver (XAG/USD) with some great Technical analysis. Currently the overview is on a 1D time frame making this opportunity Mid-Term as to how much time we would expect it to reach it's destination.
Currently as we can see on the chart there has been a perfect formulation of the typical Head and Shoulders pattern. Additionally I would say on a shorter term the overall price has entered and formuilated a Descending Channel, which boost's our confidence in the price action that we are expecting. Additionally we are looking into the fundamentals so we can get the extra confidence in the price action that we are targeting.
Entry: 29.31
Target: 26.60 which is just above the Strong Support Level
Do let me know what you think about this analysis in the comments and what is your overview on this great Precious Metal.
Currently as we can see on the chart there has been a perfect formulation of the typical Head and Shoulders pattern. Additionally I would say on a shorter term the overall price has entered and formuilated a Descending Channel, which boost's our confidence in the price action that we are expecting. Additionally we are looking into the fundamentals so we can get the extra confidence in the price action that we are targeting.
Entry: 29.31
Target: 26.60 which is just above the Strong Support Level
Do let me know what you think about this analysis in the comments and what is your overview on this great Precious Metal.
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