Silver (XAGUSD): Bullish pattern spotted.Silver (XAGUSD) is trading within a newly emerged Channel Up on the 1D chart (RSI = 60.617, MACD = 0.050, Highs/Lows = 0.2338) following the October 1st bottom just above the 1D Support Zone.
Both the 1D candle action and the RSI sequence resembles and October/ November 2018 fractal which delivered a strong rise once the Channel Up broke. Our advice is to take a careful long approach towards 19.000 - 19.500 moving the stop loss on the Higher Low of the Channel each time to limit the potential loss while keeping a maximum gain perspective.
Check out also how we expect its relationship with Gold to trade:
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Silvertrading
Flag continuation pattern on SILVER!The shakedown of US and Iran crisis and threat of war clearly gave a damaging impact on US Dollar. Investors are worried about the state of world economy and started to accumulate precious metals to protect their wealth against devaluation of Dollar. With a lot of alarming issues happening all around the globe, the demands for precious metals will continue to rise, increasing their prices. I would appreciate to hear any comment or idea from you guys. Whatever happen, Trade Safely!