XAGUSD(Silver) Technicals

Silver is currently still dominant trend up, which means we will focus on going up for some time because indeed from a technical perspective there are no signs of a downtrend we will aim at a buy in the demand area of 22.200  prices with a target at 23.200 prices use stop losses always

Silver Explanation of the daily timeframe: the daily candle for yesterday is strong bullish and as traders we must follow the uptrend Explanation of the H4 timeframe: the mother candle h4 for today is 24.xx and 23.xx and we will wait until the high first breaks Explanation of the M15 timeframe: we can see that m15 is still rising and our chance to follow buy after the pullback

Silver has two patterns on the Daily TF that indicate a bearish direction ahead.

There is a complete Head & Shoulders pattern and also a Rising Wedge pattern that has been broke. Silver (XAGUSD) has recently had a bullish retracement to re-test both patterns and should start falling soon.

Short-Term TP = $28
Long-Term TP (from Head & Shoulders) = $24.60
Long-Term TP (from Wedge) = $20.70

I expect the short-term TP to be hit at least. The longer-term TP's may or may not be reached. What will probably happen is that the Head & Shoulders target will be reached and Silver will hold up around the $25 level.

NOTE: I personally love Silver and think it's a great long-term investment. I also consider it a highly manipulated market. I am bearish now based solely on the chart, but keep in mind that anything can happen with Silver!