Silver starting to break out nicely,watch for strong bullishness

Panjang

Perak / Dolar A.S. (FX:XAGUSD)

FX:XAGUSD Perak / Dolar A.S.

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Silver (XAGUSD) has broken out of our long term descending resistance-turned-support line signaling that there’s strong potential bullishness. Our 1st major support is at 16.66 (Fibonacci retracement, horizontal overlap support, breakout level) and a strong rise could occur from here to push price all the way up to 16.92 resistance (Fibonacci retracement, horizontal swing high resistance).

RSI (21) has correspondingly broken out of our long term descending resistance-turned-support line signaling that a potential rise is approaching.

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