Silver made descending triangle pattern and it's base range is 2.36. Descending triangle pattern refer as a reversal pattern.
Currently, XAG/USD is in consolidation area, and playing at resistance trendline. This pattern has 1% chances to breakout upside. And if it will happen then we may see prices at $28.600 - $29.800+.
DAY TRADERS:
SHORT-TERM INVESTORS:
Please note before buy/sell you must identify fakeout, excess, or tail. If you need any help don't hesitate to ask, PM me.
Currently, XAG/USD is in consolidation area, and playing at resistance trendline. This pattern has 1% chances to breakout upside. And if it will happen then we may see prices at $28.600 - $29.800+.
DAY TRADERS:
- In this situation, we should wait for the flat lower trendline breakout. And you can keep selling silver nearby LH level for support trendline (Target: $27 - $26.67060).
SHORT-TERM INVESTORS:
- As I indicated in the chart, if the support trendline breakout happens then you can sell for target prices $25.85360 - $25.22460 - $24.44060.
Please note before buy/sell you must identify fakeout, excess, or tail. If you need any help don't hesitate to ask, PM me.