XAGUSD has seen an impressive rally in price all month of December since breaking out of the grip of the Resistance Level @ 54.45 that held it from October until late November, but the rally may be showing signs of exhaustion at new All Time Highs!Starting this week we see
XAGUSD put in a new All Time High @ 83.921 and since then has put in a Low @ 74.874, just above the 23.6% Fibonacci Retracement level.Now, if price fails to continue pushing higher and falls below the current Low at the 23.6% level, this Bullish momentum will have cooled down and we could then see
XAGUSD put in a deeper Pullback.The favorable level I see is the 50% Fibonacci Retracement level @ 64.728.
Fundamentally, metals seem to be softening with Trump and Zelensky "closer to a peace deal" with the Ukraine/Russian conflict but with all the global and economic uncertainty, future rate cuts and struggle with the
DXY, we should not count out that this mere decline is anything more then a simple Pullback.tradingview.com/news/reuters.com,2025:newsml_L1N3XZ035:0-precious-metals-retreat-silver-holds-near-80-ounce/
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For All Things Currency,
Keep It Current,
With Novi Fibonacci!
~~~~
Join me in Patterns To Profits on Discord
- Live pattern breakdowns
- No signal selling / - No Guru Hype
- Just structure and probability
- discord.gg/zKWvwJgFq
Keep It Current,
With Novi Fibonacci!
~~~~
Join me in Patterns To Profits on Discord
- Live pattern breakdowns
- No signal selling / - No Guru Hype
- Just structure and probability
- discord.gg/zKWvwJgFq
Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.