I touched on the longer-term price action of Spot Silver (XAG/USD) last week, showing that the unit is on track to shake hands with a Potential Reversal Zone (PRZ) of a monthly harmonic bat pattern between US$46.79 and US$42.68.
Keeping things aligned with the harmonic landscape, you will note that H1 price action recently printed an AB=CD bullish pattern at US$38.87 (100% projection ratio), set just north of a 38.2% Fibonacci retracement ratio of US$38.75. While the H1 chart is generally considered short-term in nature, you may find that given we have longer-term flow suggesting scope for additional outperformance, short-term dip-buyers may consider holding a portion of their long positions open in an attempt to catch some of the possible longer-term upside.
Keeping things aligned with the harmonic landscape, you will note that H1 price action recently printed an AB=CD bullish pattern at US$38.87 (100% projection ratio), set just north of a 38.2% Fibonacci retracement ratio of US$38.75. While the H1 chart is generally considered short-term in nature, you may find that given we have longer-term flow suggesting scope for additional outperformance, short-term dip-buyers may consider holding a portion of their long positions open in an attempt to catch some of the possible longer-term upside.
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Disclaimer
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.