SILVER (XAG/USD) – Week 8 – Consolidation almost over.
Updated
Silver adopted a corrective behavior for the past week, and at the moment it’s constructing a simple consolidation pattern that will depreciate the price shortly.
In the coming week, we expect this pattern to finish around the “bearish sweet spot” area and make room for “sellers” once again, having as a target the $24 major support area highlighted on the chart.
Don’t forget to respect your strategy and don’t overleverage your positions.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
In the coming week, we expect this pattern to finish around the “bearish sweet spot” area and make room for “sellers” once again, having as a target the $24 major support area highlighted on the chart.
Don’t forget to respect your strategy and don’t overleverage your positions.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Trade closed: target reached
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