XAGUSD Spot Silver - Is it ready to reverse up?
Spot Silver dropped this past week about 6.5 % from its high early in the week. On the
15-minute chart the drop occurred over three days. XAUUSD is now underneath the POC line
of the volume profile as well as the negative bands of the mean anchored VWAP. The Mass
Indicator and faster / slower MA ratio indicator are both near the zero line showing that
bearish momentum has subsided and a reversal may be underway. Overall, I expect a reversal
with XAGUSD seeking the mean. The first target is the POC line confluent with VWAP so
25.08 while the final target is 25.55 being the redline demarcating the top of the high volume
area. I expect this to be a 1-2 day trade with high potential reward especially if leveraged
on forex.
15-minute chart the drop occurred over three days. XAUUSD is now underneath the POC line
of the volume profile as well as the negative bands of the mean anchored VWAP. The Mass
Indicator and faster / slower MA ratio indicator are both near the zero line showing that
bearish momentum has subsided and a reversal may be underway. Overall, I expect a reversal
with XAGUSD seeking the mean. The first target is the POC line confluent with VWAP so
25.08 while the final target is 25.55 being the redline demarcating the top of the high volume
area. I expect this to be a 1-2 day trade with high potential reward especially if leveraged
on forex.
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