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.
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