SILVER (XAG/USD) – Week 26 – Preparing for another drop.
Our previous Silver analysis developed exactly as we expected, with the price entering a small corrective phase.
As it stands, in the coming days, we expect the price to reach the resistance area and resume the short-term downtrend. There is a possibility for the bearish momentum to increase even more and head towards the $23 level, but that won’t affect the bigger structure, as we find ourselves in a big weekly uptrend!
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
As it stands, in the coming days, we expect the price to reach the resistance area and resume the short-term downtrend. There is a possibility for the bearish momentum to increase even more and head towards the $23 level, but that won’t affect the bigger structure, as we find ourselves in a big weekly uptrend!
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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