Short

SILVER (XAGUSD) 2 Scenarios Explained 🪙

Updated

Hey traders,

Silver is currently approaching a year's low.
Depending on the reaction of the price to that structure,
I see 2 potential scenarios:

Taking into consideration that the market is trading in a bearish trend,
we will most likely see a breakout attempt 20.46 - 20.66 horizontal support.
Its violation and daily candle close below that will most likely trigger a bearish continuation to 19.72.

If buyers start pushing from the underlined yellow zone,
wait for a bearish breakout of a falling trend line.
Its violation will trigger a bullish move to 21.5 level.

Wait for a breakout and then follow the market!

What do you expect?

❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️

Note

Check my new idea on OIL:

CRUDE OIL (WTI) Bearish Trend Continuation🛢

VasilyTrader

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