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  • Vasily Trader

SILVER (XAGUSD) Important Decision Ahead



Watching how Silver dropped sharply yesterday,

here is the urgent update:


Even though the price managed to slightly violate a key weekly level,

for now, the price is still standing on that.


Here are two scenarios for your to follow:

Bullish

While the price is trading on the underlined key level I still remain bullish biased.

The confirmation of a coming bullish wave will be a bullish breakout of a falling parallel channel .

Only then a strong swing move will be expected.


Next support will be 24.7


Bearish

In case of a bearish breakout of the underlined yellow level (weekly candle close below) a bearish continuation will be expected.

Next support to watch will be 19.0 - 20.0 area.


Wait for the reaction of the price & then follow the market.

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