The Precious Metal Silver (XAG/USD) Is Setting Up For a Quick Run Up!

 In Market News, Technical View, Trading Signals

The Precious Metal, Silver (XAG/USD),  Is Setting Up For a Quick Run Up!

Silver price has been on a declining trend since 2011, then in April 2016 we saw silver price attempting a first price breakout that continue up to August 2016. In the past couple of years Silver price has been trading sideways while confirming price support again at prior lows $13.70 (see charts below). Currently, we see silver price regaining momentum which might allow the price of silver to finally go on a decent price run up. We identified to price targets for traders that going to buy silver today, one price target is at minor resistance level on chart at $16.60 and the second just under long term price resistance level $20.50 (which is also a 26% fib entrancement level). The Silver market enjoys the future growth in the demand for electric car batteries. considering the low risk/ high reward setup we suggest traders to BUY XAG/USD at current $15.80 level and set 2 take profits targets at $16.60 and $20.50. To protect the trade use a stop loss at the $14.0 level.


Recent Posts

Leave a Comment

Contact Us

We're not around right now. But you can send us an email and we'll get back to you, asap.

Not readable? Change text. captcha txt

Start typing and press Enter to search