XAGUSD: Approaching a buy level.
Silver has turned bearish on the 1D timeframe (RSI = 38.233, MACD = 0.035, ADX = 37.062) as it has been on a continuous decline since the December 4th top. The price is already under the 1D MA200 and the 1D MA50 and even touched the 0.382 Fibonacci level. The 0.236 - 0.382 Fibonacci range has been the most common Support since April but in order to rebound the price tends to require from the 1D RSI to enter the S1 Zone. We will go long when it does and target the 0.618 Fibonacci (TP = 24.000).
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