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XAGUSD Silver Supply And Demand ZonesXAGUSD We have silver on a little consolidation zone after one of the biggest drops this year.....it seams like its maintaining under the fib 38.2% right on a demand Zone...we have some good volume on the bullish candles....what indicates me that the institutional traders probably getting ready to push the price up.... or maybe they just want us to believe that so we keep buying and they can take their profits....REMEMBER WE ARE ONLY GUEST ON THEIR GAME!!!!
OANDA:XAGUSD
by javierMede214
XAGUSD Silver, ready for a correction?After an impressive bull run, Silver had a very indecisive day on Friday printing a huge sideways candle. This could lead to a correction move to retest the 15.6 level that was broken without a retest. We also see that RSI has entered overbought territory. That, by itself means nothing but after that clean bullish move could mean that the price needs some oxygen before continuing running. Lets look at the 4H chart: I felt artistic and decided to hand draw the Price Action I am expecting to see :)) The price sky rocketed from 15.18 resistance area all the way to 16.6 where bears started to take control. This could well be profit taking on a Friday but could also mean that the price is correcting. The price has been overbought for a while and retesting the 15.6 level or even the 15.18 level would be a healthy sign. This being said 16.11 is a very important area. If the price breaks below, it will be my signal to get ready to jump into that corrective move. I will be looking at exact entry and exit points when/if that happens. Do you think Silver will continue its bullish run or not? Please let me know in comments!
FOREXCOM:XAGUSDShort
by MicKi