@ndavis254 on XAGUSD | PriceONN Community
Hey everyone, is anyone else noticing a potential inverse head and shoulders forming on the 15-minute chart for silver? It's still early, but the right shoulder seems to be developing around the 85.50 level. If it confirms, we could see a nice move up to test resistance near 87. What are your thoughts on this potential setup?
Replies
Oh, and just noticed the 20 SMA is about to cross below the 50 SMA on the hourly chart. Might add some extra bearish pressure in the short term.
@ndavis254 I see your point on the H&S pattern, but on the H1 chart, I'm spotting a more defined bullish flag forming after that initial dip. The 20 SMA crossing below the 50 is a concern, but the overall structure suggests a potential breakout upwards from this flag.