Preferred direction: BUY
Comment: Previous trade ideas for silver, where we considered selling, have been cancelled. Today, another strengthening of metals is expected. The buyers' target will, of course, be the local maximum at level 30. It is best to set the target slightly below this level.
As you can see in the chart, we have formed a clear contracting triangle, and volatility has died down. This is a clear sign of an upcoming impulse, which, as we suppose, will be upward. We are considering two scenarios. Scenario №1 is more likely since further weakening of the US dollar (on major currency pairs), which began in the middle of this week, is expected and this should soon also be reflected in metals.
Additional comments on this trade will be provided as situation changes. Follow us!
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Comment: Previous trade ideas for silver, where we considered selling, have been cancelled. Today, another strengthening of metals is expected. The buyers' target will, of course, be the local maximum at level 30. It is best to set the target slightly below this level.
As you can see in the chart, we have formed a clear contracting triangle, and volatility has died down. This is a clear sign of an upcoming impulse, which, as we suppose, will be upward. We are considering two scenarios. Scenario №1 is more likely since further weakening of the US dollar (on major currency pairs), which began in the middle of this week, is expected and this should soon also be reflected in metals.
Additional comments on this trade will be provided as situation changes. Follow us!
Thank you for like and share your views!
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