Preferred direction: BUY
Comment: As we wrote earlier in trading ideas for Gold with a perspective for this week, all long trades in metals were closed. However, this is not the end of the growth and most likely gold will go to the maximum at the level of 2140, and silver to the resistance of 24.20. Therefore, just like for gold, we are considering two long scenarios for silver, where, of course, scenario №1 is still more likely.
We consider the target no higher than the level of 24.20, since in this resistance area of 24.20 - 24.40 the instrument will either enter into consolidation or a downward correction will begin.
Additional comments on this trade will be provided as situation changes. Follow us!
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Comment: As we wrote earlier in trading ideas for Gold with a perspective for this week, all long trades in metals were closed. However, this is not the end of the growth and most likely gold will go to the maximum at the level of 2140, and silver to the resistance of 24.20. Therefore, just like for gold, we are considering two long scenarios for silver, where, of course, scenario №1 is still more likely.
We consider the target no higher than the level of 24.20, since in this resistance area of 24.20 - 24.40 the instrument will either enter into consolidation or a downward correction will begin.
Additional comments on this trade will be provided as situation changes. Follow us!
Thank you for like and share your views!
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