Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
Silver (XAG/USD) close to make a rebound
2019-11-11 • Updated
Silver has been trading in a strong bearish bias following a test of the resistance level at 17.34. Such move could be taken as a corrective one in favor of the cycle that started in the third week of March. Currently, the price is located around the Fibonacci level of 50% at 16.72, where a lower extension could take the XAG/USD pair to test the 200-hour moving average. Around that area, we’re expecting a rebound that help to boost it towards the -23.6% Fibo level at 17.63.
RSI indicator stays near of the oversold territory, calling for an imminent rebound.
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
Bearish scenario: Sell below 2200 / 2194 ... Nearest bullish scenario: Buy above 2197... Bullish scenario after retracement: Consider buys around each indicated demand zone