Silver - One of two (bullish) scenarios

6月19日

XAGUSD recently broke a lot of strong, previous resistance towards the upside.



Silver, metals in general, are experiencing increasing demand in 2024. Therefore, prices of Gold and especially Silver have been increasing for the past couple of months. Silver broke two major previous resistance levels towards the upside and these two levels are now obviously acting as support. If Silver manages to retest these areas, a bullish reversal will occour quite likely.

Levels to watch: $25, $27.5

Keep your long term vision,
Philip - BasicTrading