Silver (XAG/USD) has reached a key trendline in the $30s and stalled.
Silver has met resistance at a trendline and is pausing after a bull run. It would need to make a decisive break above the trendline to continue its uptrend. Silver has reached a key trendline in the $30s and stalled. It has posted several Doji-like candlestick patterns over the last few days. Dojis are days where the price closes very near to the level where it opened. This is a sign of market indecision.
618 Fibonacci ratio of C leg extended higher. A decisive break would be one accompanied by a long green candlestick that broke clearly above the level and closed near its high, or three candlesticks in a row that broke above the level. Although price action has formed several Doji Japanese candles over recent days it has not formed a reversal candlestick pattern such as a Shooting Star, Bearish Engulfing or Hanging Man, for example.
XAGUSD Technical Analysis Silver
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