FXDSniper

XAG/USD Long term outlook

Long
OANDA:XAGUSD   Silver / U.S. Dollar
While Gold has created a new ATH again, silver is lagging behind more than usual. Short term correction is to be expected but overall I believe silver will attempt to break the 2021 highs. There's still a long way to go so we just have to let the price decide what it wants to do but right now I imagine at least 1-2 massive impulse moves to the upside and then a longer period of consolidation, potentially trapping all the early sellers followed by an even bigger impulse move breaking the previous highs. Then I would expect at least a $5 drop in a very short period.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.