silver analysis

2020년 8월 10일

this is a short term silver analysis done on the 4hr chart
Analysis done using the gann fann and others
As you can see price action in XAGUSD respects the fibonacci retracement and is lying on the exponetial moving average
It is also trending in a channel
My expectations are that silver will continue to rise with the weakening dollar out of the scope ,it wont change the trend anytime soon
I expect silver to move to test the resistance while the moving average acts as support
Stop loss should be placed outside the channel ,below the rising wedge
Target 29.7 ,because it is just below the gann fan line which would act as a resistance
the next target would be 31.5,the top of the channel
XAGUSD