XAG/USD had a nice week, ending the week with a +2.29% or 0.386 gain, and indications that tell us that this bearish correction is more true after a week of price action. For starters, we had only one red day during the week, which was the predecessor of a strong, green day, wherein the price never bid below the previous closing price, and nearly filled the entire previous, Thursday decline.
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This Thursday decline was a normal, healthy decline, especially considering the price for the previous day touched the $17 dollar mark. I am confident that XAGUSD will successfully knockout the $17 dollar mark next week, for two main reasons:
- Momentum is continuing to Climb.
- The divergence of the 12-day moving average from the 26-day moving average's bearish stranglehold.
As observed below:.png)
This trading opportunity can very easily disappear as quickly as it appeared if we see a correction, especially considering the current manipulation of both silver and gold by the LBMA price fix, and oversupply of paper derivatives. So, it is pertinent that you trade with caution, do your own due diligence. And if you are a stacker, you know that the reasons for stacking will be there much longer than this short-term trading opportunity, so keep stacking.
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