XAGUSD seems to have just completed a corrective structure. If this is the case, it is a good idea to go long right about now, with a first target in the 19.6 area. Upward movement should be of an impulsive kind. However, should the price of this commodity against the dollar form a flag, there is a chance that XAGUSD might retest the 2016 low in the $ 13.6 area.
In a long term perspective, we are definitely long on Silver, also considering that the mining AISC costs of the commodity range between $8 and $12.
Trade with care.
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In a long term perspective, we are definitely long on Silver, also considering that the mining AISC costs of the commodity range between $8 and $12.
Trade with care.
Don't forget to like us if you find our analyses and comments useful !
Note
One more small leg down might be possible, looking at the 60 min chart, although not necessarily.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.