$XAG Silver - a new boom or an all-time high formation? - My weekly plan
The week ended with a candlestick with a long lower tail, promising a return to the green-marked zone (weekly chart)
On the 4-hour chart, we can see that yesterday the price filled the gap of the previous week's decline and stopped.
I expect a decline to 50% (74) and a reversal with a target in the upper zone (92-109).
The 50% level of the upper tail of the monthly candlestick is marked in green (103) - the most likely level for an upward move.
Plan for this week
A small short position has been opened with a target to 62% (76).
If we see the price at 50% or lower, a long position will be opened with a target of 103 (50% of the upper tail of the monthly candlestick).
Price behavior at this level and above will provide grounds for opening a short position with a tight stop.
My previous analysis Silver
