XAGUSD about to bottom before resuming an uptrend
Updated
Silver has been trying to attempt to rally, but along with gold, it has hit some major resistance which has lead to the two both falling back to lower highs from before. As long as these lower highs remain in tact, on a technical basis these two commodities should be able to safely bottom before resuming their uptrend to higher prices.
Trade closed: stop reached
Although I didn't take the trade, I do like having charted the still possible trade which can be re-entered at a later date. I think that considering the heavy sell-off which has been happening consecutively, it would make sense that the current consolidation which I think it'll go through will have some ups and downs. A 'true' stop loss for this trade I think would lie at the bottom around mid-December.However, due to the way silver trades, it tends to take money from traders I think, more often than it'll surrender any of it's value to you for investing in it.
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