Silver could drop 2k pips
Since the low back in June 2022, Silver has traded in a range and although there were 4 attempts for a break under 18usd figure and even a false break at the beginning of September, bulls held strong and finally won the battle.
XagUsd started to rise in October and broke above the resistance of the 6 months range in November. A nice rise followed and the precious metal has gained more than 6k pips in 3 months if we count from the bottom to the top.
However, at this point, Silver looks like it wants to correct and the first and the second trading days of the year are Pin Bars.
The ascending trendline is also broken to the downside and these could be signs of an imminent drop.
My strategy is to sell rallies against 22.80 with a target at the 22 zone. Also, a deeper correction could drive the price even at 21 important support.
XagUsd started to rise in October and broke above the resistance of the 6 months range in November. A nice rise followed and the precious metal has gained more than 6k pips in 3 months if we count from the bottom to the top.
However, at this point, Silver looks like it wants to correct and the first and the second trading days of the year are Pin Bars.
The ascending trendline is also broken to the downside and these could be signs of an imminent drop.
My strategy is to sell rallies against 22.80 with a target at the 22 zone. Also, a deeper correction could drive the price even at 21 important support.
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t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
🌟 Bust your trading with 50% deposit bonus:
secure.m4markets.com/links/go/5426
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