XAGUUSD Forex Analysis for Today, Monday (15-01-2024)
Three Black Crows Emerged: Get Ready to Sell Silver Again!
Daily Analysis XAGUSD
US PPI Declines, Dollar Corrects
After unexpected weakness in the US PPI data for December 2023, the USD experienced a correction, triggering speculation of a rate cut by the Fed. Silver prices initially strengthened but corrected again.
Three Black Crows Pattern Appears
The three black crows pattern has reappeared on the H1 time frame. Look for selling opportunities if it breaks below support.
Conclusion: Weak Silver
Resistance
- R1 23.520
- R2 23.050
- R3 23.700
- R4 23.900
Support
- S1 23.050
- S2 23.520
- S3 22.800
- S4 22.700
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