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Xagusdanalysis

Silver- Strongly bearish under 24.80Yesterday I said that Silver is more bearish than Gold, and indeed, although it has risen, it could reach the last top As you all may have seen, we have a clear H&S pattern with the neck-line at 24.80, which is broken at this moment. Although this means upward momentum, the price is stalling above this neckline and looks more like distribution at this point and could be a false break. Silver back under 24.80 (the neckline) is strongly bearish and confirms the false break. In this case, I expect acceleration to the downside and Silver to drop to at least 23 zone (around 1800 pips) My scenario is valid as long as the price stays under 25.60 on the daily close bases
SShort
by Mihai_Iacob
11
Silver- More bearish than GoldLike its bigger brother, Gold, Silver also has a good start this month, with the price rising around 2500 pips or around 10%. However, after breaking above the neckline of an H&S, the price stalled and lacked strong continuation. Instead found a strong ceiling at 25.50 and yesterday's rally above resistance for Gold wasn't matched with a rally above 25.50 for Silver. This consolidation above the neckline looks like distribution to me and a drop under 24.70 could accelerate losses towards 23 zone support I will look to sell rallies and a daily close above 25.50 would negate this scenario
OANDA:XAGUSDShort
by Mihai_Iacob
14
Silver- Will it reach 28 by year's end. IMO, it willIn my previous Silver analysis, I've argued that 23 is a strong buy zone and the price reversed exactly from that zone, putting in a Pin Bar on our daily chart. As in Gold's case, Thursday and Friday the price rose and at this moment Silver is rising towards resistance. This resistance can very well be the neck-line of an H&S pattern and a break here would expose important 28 zone resistance. IMO the end of the year will be bullish for PMs and also a long trade for XagUsd with 28 target would have a 1:3 R:R
OANDA:XAGUSDLong
by Mihai_Iacob
11