XAGUSD Pull-back are a buy to $29.00 - 30.00

Mar 9, 2022

What was set in motion last October when the price rebounded on the 1W MA100, is taking place now, as Silver (XAGUSD) broke above its 1W MA50.

On the shorter time-frame of 1D (current chart), the price appears to be replicating the December 2020 aggressive rise, which initially reached almost the 0.786 Fibonacci retracement level (28.000) and after a 1D MA50 (blue trend-line) pull-back, tested the 30.000 Resistance.

This time, the rally broke above the 1D MA200 (orange trend-line) for the first time since July 16 2021. Our long-term strategy is to buy every pull-back up to the 1D MA50 and look to book profits within the 29.000 - 30.000 Zone.


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