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Consolidating within up leg of price pattern
The post Consolidating within up leg of price pattern appeared on BitcoinEthereumNews.com. Silver is consolidating within the third and final up leg of a price pattern. The price will probably continue up to a target in the upper $32.00s. Silver has broken out of a falling channel and above a four-year resistance level. Silver (XAG/USD) consolidates after breaking out of a falling channel and above a four-year old resistance level. It is probably in the process of rising up in the final wave C of a three-wave Measured Move (MM), with a final price target substantially higher than the current market level. Silver Daily Chart MMs are like large zig-zags composed of three waves, sometimes labeled A,B and C. Wave C will probably reach the 0.618 extrapolation of wave A at $32.75, as a minimum expectation. If wave C is the same length as A – as is often the case – then it could reach $35.00. A break above $31.49 would provide confirmation of the next leg higher. Source: https://www.fxstreet.com/news/silver-price-analysis-consolidating-within-up-leg-of-price-pattern-202407091335
The post Consolidating within up leg of price pattern appeared on BitcoinEthereumNews.com.
Silver is consolidating within the third and final up leg of a price pattern. The price will probably continue up to a target in the upper $32.00s. Silver has broken out of a falling channel and above a four-year resistance level. Silver (XAG/USD) consolidates after breaking out of a falling channel and above a four-year old resistance level. It is probably in the process of rising up in the final wave C of a three-wave Measured Move (MM), with a final price target substantially higher than the current market level. Silver Daily Chart MMs are like large zig-zags composed of three waves, sometimes labeled A,B and C. Wave C will probably reach the 0.618 extrapolation of wave A at $32.75, as a minimum expectation. If wave C is the same length as A – as is often the case – then it could reach $35.00. A break above $31.49 would provide confirmation of the next leg higher. Source: https://www.fxstreet.com/news/silver-price-analysis-consolidating-within-up-leg-of-price-pattern-202407091335
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