Silver- Ready for 35usd

31 июл.

A few months ago, I wrote an XAG/USD analysis, predicting that Silver could rise by 10,000 pips to reach 35.
Achieving such a significant target requires patience, and the price won't climb in a straight line. However, my long-term conviction remains unchanged: Silver will likely rise to 35 USD/oz.

But as Keynes said, "In the long run, we are all dead," so let's focus on the short term.

Recently, as shown in the posted chart, Silver broke below horizontal support.
However, after a bullish Pin Bar formation a few days ago, the price reversed strongly and is now trading back at the old support, which has become resistance.
This suggests the possibility of a false break.

At this moment, given the proximity to resistance, a correction is possible. However, this correction should be seen as a good opportunity to buy in anticipation of a false break. Depending on your patience, you could set your target at 30, 32, or my long-term target of 35.

1 авг.

Заметка

XagUsd broke above resistance.
The next resistance is just above 30