XAGUSD Forex Analysis for Today
SELL Opportunity in XAGUSD: Bearish Rising Wedge Pattern + BoS
XAGUSD Analysis
Precious Metals Under Pressure
Silver prices had increased yesterday but are now under pressure and stabilizing below the $29 per troy ounce area. One of the causes is the rising yield of the US 10-year treasury at 4.274 percent.
Bearish Rising Wedge Pattern + BoS
A bearish rising wedge pattern is visible on the H1 time frame, followed by a break of structure (BoS) with the swing low breach.
Prediction: WEAK XAGUSD
Resistance
- R1: 30.500
- R2: 30.000
- R3: 29.500
- R4: 29.000
Support
- S1: 28.500
- S2: 29.000
- S3: 29.500
- S4: 30.000
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