SILVER (XAG/USD) – Week 27 – Preparing for another drop.
Our previous Silver analysis developed exactly as we expected, with the price reaching the resistance area.
As it stands, the next short-term move for Silver should be a bearish one that has the potential to break the support level highlighted on the chart. There is a possibility for the bearish momentum to increase even more and head towards the $23 level, but that won’t affect the bigger structure, as we find ourselves in a big weekly uptrend!
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
As it stands, the next short-term move for Silver should be a bearish one that has the potential to break the support level highlighted on the chart. There is a possibility for the bearish momentum to increase even more and head towards the $23 level, but that won’t affect the bigger structure, as we find ourselves in a big weekly uptrend!
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Related publications
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.