XAGUSD- In the last 16 trading sessions, silver has not been able to recover above the support formed at 23.02 in November.
Currently forming a technical double top on a 120m time frame that will only be confirmed after a violation below the most recent support.
Once and IF confirmed, the drop in silver could help form a "right shoulder" to a higher degree inverted head and shoulders that could push silver to 24.55 again.
https://www.tradingview.com/chart/EURUSD/TRN8FkXp-Double-Top-definition-2618-trade-setup/
https://www.tradingview.com/chart/EURUSD/IZLJ3dS1-Head-Shoulders-Educational/
Note
Gold is also forming the eventual the same technical double topNote
I am a financial market analyst based in Porto, Portugal. I provide market forecasts to a group of professional traders, playing a crucial role in assisting them in making well-informed decisions in the financial markets.
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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.
I am a financial market analyst based in Porto, Portugal. I provide market forecasts to a group of professional traders, playing a crucial role in assisting them in making well-informed decisions in the financial markets.
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.