XAGUSD Monthly Bearish Divergence Potentially Forming
Silver chart shows a monthly bearish divergence potentially forming on the stochastic oscillator (14,3,3). Short 50 ounces (0.01 Lot) @ $25.133 (SL @ $31 TP @ $18.63) targeting 61.8% fibonacci retracement of bull move from March 2020 low to February 2021 high. Carry is slightly positive with my broker @ 0.06175 points. Hedging 25.57 ounce physical silver position.
Note
profit booked @ $25.041, may look for a better entry to short long term
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.