$XAGUSD | Time For A Silver Turn Around?

XAGUSD_2022-11-29_23-11-27_a359a

With the break and closed daily candle above the 200 EMA, $XAGUSD (Silver) could be making a move to the upside with a Rally-Base-Rally and Drop-Base-Rally type motion (highlighted by the blue arrow trail), bouncing off Demand Zones. Previous movements (February 2022 & April 2022) off the 200 EMA have been to the upside tremendously as well as it aligning within the Demand Area. Nearest take profit would be around the $22.407 area and Stop Profit would be under the swing low of the current Demand Zone it is sitting in. 

But even with this confluence for a LONG BUY, proceed with caution as good ole’ Jerome Powell is set to speak tomorrow. 


Hotep & Build (wealth). 

You Might Also Like

Trending

Browse Topics

Archives

Crypto Trades