Silver broke severely bearish from it's consolidation pattern in response to the DXY daily uptrend confirmation.
Key Support Levels:
23 - Key pivot point
22.70-22.80's - Support from March lows
22.25 - Another key pivot from recent rally
100 dma, if this doesn't hold then it would most likely be complete capitulation for the bulls who would then be looking at the 200 dma and would probably need lots of time before it got going again
Plan: Wait for a solid bounce from above 22.25, hopefully giving enough room where the most likely scenario is a daily lower high which is where I'd be looking to cautiously enter, if the DXY is still in a daily uptrend
Key Support Levels:
23 - Key pivot point
22.70-22.80's - Support from March lows
22.25 - Another key pivot from recent rally
100 dma, if this doesn't hold then it would most likely be complete capitulation for the bulls who would then be looking at the 200 dma and would probably need lots of time before it got going again
Plan: Wait for a solid bounce from above 22.25, hopefully giving enough room where the most likely scenario is a daily lower high which is where I'd be looking to cautiously enter, if the DXY is still in a daily uptrend
Idées en relation
GOLD Update
cduxtrades
about XAUUSD