Silver – Confirmation of The Uptrend

Silver – Confirmation of The Uptrend

Silver OANDA:XAGUSD

DLavrov

The market confirmed the continuation of the primary uptrend. After the confirmed reversal from the support zone formed by the uptrend line, SMA100 and 15.00 level, the price moved upward. We got a short term pullback and a new swing high. Based on the hourly time frames we got trading opportunities in the direction of the main trend. The market made a good upward run after that, and the local swing high was broken. It gave us confirmation that the market would move upward.

RSI and MACD support the upward movement. It means all correction should be used for searching buy signals based on reversals. Long trades can be opened based on the hourly timeframes. As for the daily chart , the price will need to return to the uptrend line or SMA100 where a reversal signal will be used for opening long positions.
Source: TW DLavrov

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