Trade Spot SILVER (XAG/USD) with Unum Capital.
To get started, email lester@unum.co.za
Technical Condition and Price Action Probability
What is the current short-term trend for Spot Silver? The short-term trend for Spot Silver is strong.
And what about the medium-term trend? The medium-term trend is attempting a bullish reversal after a consolidation phase.
What does that mean in terms of price action? It means that the price has been moving sideways for a while, but it's now showing signs of breaking out to the upside. However, we need to see if it can hold above the previous session's high. If it doesn't, there's a potential for a retracement back to the range breakout level.
And what about the long-term trend? The long-term trend is bullish, but it currently lacks directional bias. We need to see a break of the range to trigger a new trend.
So, what are the key takeaways? The short-term trend is bullish, and the medium-term trend is attempting a bullish reversal. However, the long-term trend is still uncertain. We need to monitor the price action closely in the coming days to see if it can hold above the previous session's high and break out of the range.
Daily Chart
Lester Davids
Analyst: Unum Capital
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