Silver XAGUSD is breaking out for a Long
I mentioned during yesterday Sunday, that I was very bullish on the Silver price at the moment.
It appears to breaking out right now through Tops resistance on the Mid-timeframes.
Look for a price retracement for a Long buy.
I will get a trade organised in Silver probably closer to the New York session.
Silverbreakout
Silver breaks out going into Oceania & Asia Tuesday trading!!
Thanks to a very bullish Head 'n' Shoulders pattern on 1-5M timeframes Silver has posted a very strong close. You can see here on the daily it's broken out very well compared to Gold & the Silver price still has some catching up to do following its' sell-off in July.
Silver big move after correction up to 22$Silver in comparison with gold still has it's final word, even if gold will go up, it will not compare with silvers future gains. The structure of silver's pattern since 2011 permits for such a breakout. This will probably be last chance to make significant profit from gold and silver before final consolidation. Also the wave B in depicted ABC structure might last longer, but anyways it does not change the pattern.