Exactly 1 month ago (February 26, see chart below) we gave a strong Sell Signal on Silver (XAGUSD), that eventually hit last week our 66.000 Target:
After breaking below its 1D MA100 (green trend-line) on March 19, the market has been closing all 1D candles below it. However as long as the 1D MA200 (orange trend-line) holds and give the fact that the 1D RSI hit its 2-year Support Zone, we expect a relief rally similar to the February 06 Low that rebounded to the 0.618 Fibonacci retracement level before the bearish trend was resumed.
As a result, we have a short-term Target at $81.000 (Fib 0.618), which would also test the 1D MA50 (blue trend-line).
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After breaking below its 1D MA100 (green trend-line) on March 19, the market has been closing all 1D candles below it. However as long as the 1D MA200 (orange trend-line) holds and give the fact that the 1D RSI hit its 2-year Support Zone, we expect a relief rally similar to the February 06 Low that rebounded to the 0.618 Fibonacci retracement level before the bearish trend was resumed.
As a result, we have a short-term Target at $81.000 (Fib 0.618), which would also test the 1D MA50 (blue trend-line).
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。