SILVER (XAGUSD) Important Decision Ahead 🪙

Watching how Silver dropped sharply yesterday,
here is the urgent update:

Even though the price managed to slightly violate a key weekly level,
for now, the price is still standing on that.

Here are two scenarios for your to follow:

• Bullish
  While the price is trading on the underlined key level I still remain bullish biased.
  The confirmation of a coming bullish wave will be a bullish breakout of a falling parallel channel.
  Only then a strong swing move will be expected.
  
  Next support will be 24.7
  
  
• Bearish
  In case of a bearish breakout of the underlined yellow level (weekly candle close below) a bearish continuation will be expected.
  Next support to watch will be 19.0 - 20.0 area.
  

Wait for the reaction of the price & then follow the market.

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Commentaire:

Check my new idea on EURNZD: