XAGUSD Sell signal at the top of the Channel Down.

Silver / XAGUSD got rejected on Friday at the top of the 6 month Channel Down.

Today it is supported by the 1day MA200, which was the Resistance in late September-October. If crossed, we will have a sell confirmation.

The typical decline inside the Channel Down has been within -12.12% and -13.21%.

Also we spotted a fractal during July-October 2022, which is so far similar to today's and targeted Support A.

As a result we have two potential targets.

Sell and target initially 22.000 (Support A). If Support A breaks, you can extend to 21.250 (-12.10% from the top).

Previous chart:


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