XAGUSD H4 | Silver shows a bullish reversal
Title
XAGUSD H4 | Silver shows a bullish reversal
Type
Bullish reversal
Preference
The price is reacting off the pivot at 74.21, which is a multi-swing low support. A reversal from this level could lead the price toward the 1st resistance level at 93.21, an overlap resistance.
Alternative Scenario
If the price breaks below the pivot, it could fall to the 1st support at 64.05, an overlap support.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.