@fmalik946 on XAGUSD | PriceONN Community
F
Silver is showing some weakness here. The descending triangle forming on the H4 chart suggests further downside potential. Watching for a confirmed breakdown below the lower trendline; a move below 76 could open the door to a test of the recent lows.
Replies
@fmalik946, I see where you're coming from with the descending triangle on the H4. Makes sense. But with silver, sometimes those patterns can be misleading, especially with all the volatility! I'm a bit hesitant to jump on the short side *just* yet. I'd want to see a clear break below that 82.50 level before confirming the breakdown, and even then, I'd be cautious. Plus, with the overall bullish trend still intact, I'm wondering if this is just a temporary pullback before another leg up. Maybe wait for more confirmation before committing fully?
I
@fmalik946 That descending triangle could be valid, but the recent bullish momentum is strong. I'd wait for more confirmation before shorting. Maybe watch the 93.48 level?