XAG holding its ground a little above the 50MA on the hourly chart but zooming out and looking at weekly its showing a nice primed action for taking a little dip and retracing back to .618 area towards the bottom of the descending triangle.
Elliott theory also looking like a bearish formation but I don't care to much about that.
Gann fan also showing that this is indeed not looking like a sustained bull move be it trading below the 1/1 fan zone and touching the trend line resistance before a little pullback.
This has been a little fake run in my opinion and a constituent in whats usually accompanied by downside in commodities =]
LONG LIVE THE SILVER SURFER.
Elliott theory also looking like a bearish formation but I don't care to much about that.
Gann fan also showing that this is indeed not looking like a sustained bull move be it trading below the 1/1 fan zone and touching the trend line resistance before a little pullback.
This has been a little fake run in my opinion and a constituent in whats usually accompanied by downside in commodities =]
LONG LIVE THE SILVER SURFER.
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.
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.