Silver is testing a key resistance.
XAGUSD is reaching 23 after the bounce off the support. A clean, confirmed break above 23 is required for the upside reversal and a test of 24. A rejection here would leave the downside range swing in play. This is a long-term consolidation ongoing without a direction like in gold, but it seems that swing range potential has a bit more space, and a break above 23 is required to avoid that.
Note: look for the long trade entry with a stop loss below 23 in the case of an upside breakout confirmation. In the case of rejection, here take the short trade
GET THE COPY TRADING AND PREMIUM MEMBERSHIP FOR FREE
“If you think Investing is risky, wait till you receive a bill for not Investing!” Jim Rohn
TRADE Â WITH US COPY TRADES PERFORMANCES VERIFIED BY A THIRD PARTY
Register for Private Live mentoring with your trading evaluation to learn trading analysis and get to crucial trading levels like this article.
Take a break from your trading routine, and let us run some funds! Copy our trades!