Market Analysis of XAGUSD on Monday 05 August 2024

2024-08-05 16:21Source:BtcDana

Technical Analysis:
The wave is still in play for silver, with a break and close above 29.2 being crucial for a further upside move towards the 31 level. Currently, the price is trading near important support zones, presenting a long opportunity near these levels with a stop loss at 27.2 and a target of 31. The time correction is over, and by next week, silver should be trading above 30.2 levels.

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