. There is a possibility of temporary retracement to suggested support line (14.60). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. XAGUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
XAGUSD reversed off our first resistance at 14.66 (61.8% Fibonacci extension,78.6% Fibonacci retracement, horizontal pullback resistance) where it could potentially drop to its support at 14.36(horizontal swing low support, 61.8% Fibonacci extension, 78.6% Fibonacci retracement).
Trading CFDs on margin carries high risk.
Losses can exceed the initial...
Nobody or very few people have been looking at Silver. Why? Everybody is distracted by Bitcoin and GBP pairs at the moment.
In the screencast I show that Silver is ripe for a controlled loss. Oops.. nobody wants to hear about losses - right?
I'm stalking this one carefully - having been distracted and missed Palladium.
Silver is pretty cheap at the moment....
Last week was a large range week, in which the market broke below triangle pattern support, and quickly reversed, finishing positive. This is normal. A false break will typically occur in a triangle reaching its apex. It is also possible to interpret this as an Inverse head and shoulders, with a sloping neckline.
Either way, the measured move target for a long...