SILVER (XAGUSD): Weekly Time Frame Outlook 🪙
Updated
Silver is trading within 1,5 years consolidation range.
Now the price is approaching its support.
21.6 - 22.2 is the area on focus.
Be prepared for a bullish wave from that structure.
Your swing confirmation will be a bullish breakout of a major falling weekly channel
(the price is steadily falling within that for the last 4 months).
Most likely bulls will aim at the range's resistance then.
However, start protection of your position from lower levels.
First support to watch: 24.8
Bearish breakout of range's support will signify the initiation of a global bearish trend.
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