XAGUSD - Silver Short Setup
From a COT perspective, Silver has started showing a weaker momentum than before in its long size contracts. That doesn't mean that a second top won't happen and this is why we will capitalize from it.
The 0.5 Fibonacci level at 20.50000 is now a serious demand zone since it is a monthly critical level and it also aligns with the neckline of the "W" structure seen on the monthly timeframe. Our TP will be determined according to it.
Happy Trading!
The 0.5 Fibonacci level at 20.50000 is now a serious demand zone since it is a monthly critical level and it also aligns with the neckline of the "W" structure seen on the monthly timeframe. Our TP will be determined according to it.
Happy Trading!
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