XAGUSD is breaking above the strong long-term resistance
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XAGUSD is slightly breaking above the 21.50 resistance, long-term strong resistance. This breakout higher needs to be confirmed for the upside reversal continuation by holding above 21.70 and breaking above the next important resistance 22.
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The weekly chart reveals a test of the next important resistance for a continuation of higher to 25. We can see that the low has been established by a multi-week consolidation with the first spike above 21 in the past week.
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On a daily chart, we can see a good RR trade opportunity Already a member? This article is so good, it’s for premium members only.
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We have used the combination of the top-down trading analysis to get these critical levels explained in the charts. Also, you can see Elliott Wave and price action analysis together with the Andrews Pitchfork channel tool. If you want to learn the trading strategy that will give you immediate results in your trading register for Trader’s classroom.
