XAGUSD the downtrend continues in Silver 04 Oct, 2021
From my daily chart, note the S/R levels (zones) at 24.00 and 22.60.
Also see:
- a downtrend that began in May.
- for the most part, price has been contained below the 20 ema.
- a break below 22.60 and price has now pulled back.
As long as we are below 24.00 on a daily close basis, my bias is to the down side. I am anticipating a continuation of the bearish trend either immediately or a rejection at the 20 ema again. The next major support comes at 18.60 region, although we could see some stalling around 22.116.
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Always use sound money and risk management in all your trades.
Also see:
- a downtrend that began in May.
- for the most part, price has been contained below the 20 ema.
- a break below 22.60 and price has now pulled back.
As long as we are below 24.00 on a daily close basis, my bias is to the down side. I am anticipating a continuation of the bearish trend either immediately or a rejection at the 20 ema again. The next major support comes at 18.60 region, although we could see some stalling around 22.116.
If you like my analysis, please give it a “thumbs up” and follow me to get immediate notifications.
Always use sound money and risk management in all your trades.