XAGUSD: Waiting for the MACD to give a buy signal

Silver is trading inside a Channel Up pattern following the March 10th Low and the neutral 4H technicals (RSI = 48.188, MACD = 0.000, ADX = 33.202) indicate a short term buy opportunity. However, and despite the fact that the price hit the bottom of the Channel and is rebounding, it remains under the 4H MA50 for the past 24 hours and it requires the MACD to make a Bullish Cross in order to confirm the buy signal.

The smaller rise it has down inside the Channel Up is +5.70% so if the MACD gives that signal we will buy and target that range (TP = 26.150). If the price crossed under the Channel, we will sell and target the S1 (TP = 23.650).


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