SILVER (XAG/USD) – Week 30 – Expecting the bears to stay put.
In our previous analysis, we forecasted that the price will start a correction and drop towards the support. Unfortunately, we only got 50% of that right, as the price ranged the whole week.
In the coming week, we foresee the price to finish this pullback and drop towards the support level, eventually breaking it, having the potential to head into the $23 area.
Don’t forget that we are in a strong weekly bullish trend and in the medium-term to long-term we expect the price to reach the $50 psychological level.
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 foresee the price to finish this pullback and drop towards the support level, eventually breaking it, having the potential to head into the $23 area.
Don’t forget that we are in a strong weekly bullish trend and in the medium-term to long-term we expect the price to reach the $50 psychological level.
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.
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