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:
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
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.