Silver AU
XAG/USD on weekly
hunting the floor here and looking for a reversal, vix fix showing clear market bottom for weeks now
momentum is still on the downside shown by the cycle of power, we could as low as $14
a USD rally will force the price lower towards $14 but if USD/DXY starts dropping towards low 90's we can get a good mid-term long trade here
Silver has big potential for upside motion with the gold/silver ratio being slanted towards gold, many analysts looking for the to balance out a bit too
aggressive traders might want to start testing the bottom but more conservative traders will look for support at $15 and go long from there targetting $16 and above
any Q's please leave them in comments or join our telegram channel
XAG/USD on weekly
hunting the floor here and looking for a reversal, vix fix showing clear market bottom for weeks now
momentum is still on the downside shown by the cycle of power, we could as low as $14
a USD rally will force the price lower towards $14 but if USD/DXY starts dropping towards low 90's we can get a good mid-term long trade here
Silver has big potential for upside motion with the gold/silver ratio being slanted towards gold, many analysts looking for the to balance out a bit too
aggressive traders might want to start testing the bottom but more conservative traders will look for support at $15 and go long from there targetting $16 and above
any Q's please leave them in comments or join our telegram channel
Note
going in with the daily viewNote
Note
we can see a bit of a dead cat playing out looking to get a proper floor formed or if we test lows for a better entryTrade active
silver outperforming Gold today
Note
another quality chart from threesteps
Trade active
DXY pushing hard giving good entries for Gold and Silver
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.