XAGUSD
We are witnessing a decreasing trend in a channelized space. We are currently witnessing a negative divergence and we are on a static resistance in the range of 21.76186.
We have 2 scenarios ahead:
1. In case of breaking the resistance, you can experience a growth up to the ranges of 21.86676 and 21.95601 or between them and then continue the decrease up to the specified ranges.
2. It cannot break the resistance, the divergence works and the 3 specified targets of the harmonic patterns that have been completed in the ranges of 21.69113-21.59853-21.52730 can be considered as targets. If all of them fail We have the important range of 21.40745 in the intersection with the B area of the pattern, which is considered a strong resistance.
We have 2 scenarios ahead:
1. In case of breaking the resistance, you can experience a growth up to the ranges of 21.86676 and 21.95601 or between them and then continue the decrease up to the specified ranges.
2. It cannot break the resistance, the divergence works and the 3 specified targets of the harmonic patterns that have been completed in the ranges of 21.69113-21.59853-21.52730 can be considered as targets. If all of them fail We have the important range of 21.40745 in the intersection with the B area of the pattern, which is considered a strong resistance.
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