Hi All,
XAGUSD is going strong and i am also a fan of silver. But this week, we could not close above 28 level. as seen at that price, there is pressure on price and price retraces significantly that's why i expect last retracement around 27.7$. Hopefully, trend is also pressing from below fo higher lows.
At worse scenario, thinking with silver's agressive pricing, i can expect a HSH Formation (DXY seems to grow,this also makes me think in this way) which will decrease the price to the 26.8$area. if this happens, there is still no problem because holding over 26.7$ fractal area means trend is still positive.
I think beside the graph, DXY will decide about silver price.
This is not a financial advice.
XAGUSD is going strong and i am also a fan of silver. But this week, we could not close above 28 level. as seen at that price, there is pressure on price and price retraces significantly that's why i expect last retracement around 27.7$. Hopefully, trend is also pressing from below fo higher lows.
At worse scenario, thinking with silver's agressive pricing, i can expect a HSH Formation (DXY seems to grow,this also makes me think in this way) which will decrease the price to the 26.8$area. if this happens, there is still no problem because holding over 26.7$ fractal area means trend is still positive.
I think beside the graph, DXY will decide about silver price.
This is not a financial advice.