Silver to consolidate – before a breakout to the upside. for FOREXCOM:XAGUSD by LupaCapital — TradingView


Purple = weekly
Blue = Monthly
Orange = Daily

Hello Traders and Analysts,

Based on what merit?

We have seen a nice impulse into the channel and a rejection upon reaching the zone of $29.00.

Good question, based on the fact – from a technical standpoint – the sell off back in February, March 2020 – reversed on a fractal point within the market structure to the crisis of the reluctance for the demand of the Commodities . However, this produced a demand zone to hold from so we have a buying opportunity.

This imbalance was created in which created the impulse. Price re-established itself now between $22-27 zone for a further imbalance where price will now look to as a strong demand for price engineering if needed.

Looking for an entry?

Based on the orange trading consolidation.

Now we are in 2021, we can now look at buying opportunities.

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