XAG/USD - Week 51 - Range territory

Silver has entered a price range at the moment. Compared to Gold, the weekly chart for Silver shows us that a stronger bullish trend has started on the weekly timeframe. This means that the price can test the 35$ area. For the moment we expect the price to remain in the current range for a while, with a big possibility for a move down in the short term to test the 20$-21$ area before resuming its uptrend.

Trade with care!
Financial Flagship

Disclaimer: The analysis provided is just informal and it should not be used as financial advice. You need a plan before you trade, but we assume this can help you have a better idea to where the market is heading next.

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Expecting the price to go lower.