XAGUSD#FOREX #XAGUSD
Silver falsely broke through the corner (but made it possible to make good money on its breakdown) and returned to the zone of uncertainty. We are waiting again.
Now the price is trading at the level of concentration of horizontal volumes - ROS. It is sandwiched between two important corners (red and red).
Slight probabilities are in favor of a downside (red scenario) due to a sustained mid-term downtrend and a weekly RSI below 50-60.
Also, such false breakouts, as highlighted in blue, indicate the weakness of bullish sentiment, and the need to collect liquidity before moving further along the trend.
In favor of growth, we can note the formed parabola (yellow), and the fact that the key global red corner is still held.
If the price manages to consolidate above the red angle, then it will continue its upward movement along the parabola to the Gann angles at ~23.2 and 24.6
By and large, like many other financial instruments, silver is in an area of uncertainty when volatility is compressed. This means one thing, that we will probably soon get a strong movement in one of the directions. Then it will be possible to stand in the desired position with a larger volume. In the meantime, you have to significantly reduce the volume and trade small movements.
*This post is not an investment recommendation or a trading recommendation.
