XAGUSD looking for LONG
XAGUSD has been consistently growing on the Weekly timeframe:
We closed last week with an indecision bar; however, the fundamentals should point higher and the Daily timeframe is still on an upward trend, so this might be a physiological retracement.
Let's see where the 4-hour chart brings this moment of indecision to see a clearer direction, which could make the price rebound to the upper trendline (also just below the 50% Fibonacci) somewhat below 18.40
The main trendline (violet in the chart) should anyway hold on the Daily.
We closed last week with an indecision bar; however, the fundamentals should point higher and the Daily timeframe is still on an upward trend, so this might be a physiological retracement.
Let's see where the 4-hour chart brings this moment of indecision to see a clearer direction, which could make the price rebound to the upper trendline (also just below the 50% Fibonacci) somewhat below 18.40
The main trendline (violet in the chart) should anyway hold on the Daily.
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