#xag #Gümüş formed a wedge pattern in the latest decline wave. When this kind of wedges break, an upward move is expected.


During the rise, around the 60 level can act as resistance and there may be another pullback.
If the daily close is above 63, then—according to the most recent decline wave—we would have seen the first higher high on the daily timeframe, and we would receive a trend reversal signal, suggesting the rally could continue further.
After breaking the 63 resistance, you can track the 67-71-80 resistance levels.
Since there was a close below 56 on the daily, if it cannot close above 63, there is a chance the decline will continue. And the price could drop toward the 50 and 45 support levels.
45 support is important. As long as price remains above it on the weekly timeframe, the uptrend is considered to be preserved.
XAG0.98%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • 1
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned