My Current Active Open Trades: XAGUSD & AUDUSD (Option)
Silver – Bounces From Key Support, First Target Hit (4hr chart)
In our weekly market commentary, we talked about 18.45 being key structural support and likely to produce a bounce with our MT bias bullish above here.
As you can see from the chart below, a bounce is exactly what happened with our first target between 19.25 and 19.50 hit. Currently the commodity is sitting just under 20 and still looking structurally bullish.
I’m holding my current long and am looking for an attack near 21 before solid offers come in. Clearing here puts 24 into context while a break back below 19.25/50 will put more pressure on 18.45 and the …... Keep reading