Longer-term price action on the price of Spot Silver (XAG/USD) is on track to shake hands with a Potential Reversal Zone (PRZ) of a monthly bat pattern between US$46.79 and US$42.68. What this also tells Silver traders is that according to this pattern’s structure, there is scope for additional outperformance. As a result, I am closely monitoring monthly support from US$35.70 in the event of a pullback unfolding.
Written by FP Markets Chief Market Analyst Aaron Hill
Written by FP Markets Chief Market Analyst Aaron Hill
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.