XAGUSD is near the breakout
It is testing the 24.70 upside resistance and a downtrend channel downside support. For an upside reversal and a higher probability of long trade entries, we need to see a confirmed break above 25. A break above this level would lead to an extension higher to 26 medium-term. The overall medium-term is downtrend but we need to see a confirmed break below 23.80 for a complete downside extension. It is a complex positioning and could open bot ways trade potential long/short.
Note – We are inclined more to short trade entries with the stop loss above 25.
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