Silver quotes continued trading above the bearish channel range described in the previous idea. XAGUSD approaches the follownig daily resistance at 18.15 displayed on the daily timeframe.
On main 1-hour chart a descending triangle is marked in green, its upper range at 18.01 was tested at the start of this hour. This level supplemented with R2 pivot point 18.07 makes up resistance area.
Short opportunity below 18.15 targeting 17.75 (triangle's lower range) and 17.20.
On main 1-hour chart a descending triangle is marked in green, its upper range at 18.01 was tested at the start of this hour. This level supplemented with R2 pivot point 18.07 makes up resistance area.
Short opportunity below 18.15 targeting 17.75 (triangle's lower range) and 17.20.
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First target at 17.70 tested.
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