XAGUSD correction towards the end of the year.

١٥ أكتوبر

Silver (XAGUSD) has made a Double Top (red circle) on October 04 near the Higher Highs trend-line of the 2-year Channel Up. Last time it did a similar Higher High was on May 05 2023, after remarkably a similar +48.50% rise, it started a correction that extended below bot the 1D MA50 (blue trend-line) and the 1D MA200 (orange trend-line).

The first stop was the 1D MA200 and the 0.382 Fibonacci retracement level and that's where our end-of-year Target is at 28.500.

Notice also the 1W MACD similarities between the two peak fractals. Also the time from bottom to top has been highly identical at 246 and 248 days respectively.

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