XAGUSD: Approaching the 1D Support. Buy opportunity.

7 thg 9, 2023

Silver is on a strong decline after the August 30th rejection on the LH trendline. The price is naturally on a bearish 1D time-frame technically (RSI = 39.492, MACD = -0.033, ADX = 26.676) but an RSI reading below 35.000 has been a buy opportunity since the end of May. Ideally the buy entry would be as close to S1 (22.235) as possible. We will buy and target the LH trendline again (TP = 24.500).

Prior idea:

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