$XAG #Silver has a high probability of starting an uptrend to 103.
On Friday, the sharp move to 69 could be interpreted as the price reaching the previous order block zone, where big money was loaded with longs.
On the first day of the week, the price attempted to move lower, but stopped—again—at a certain level—62% of the lower tail of the 3-month candlestick.
Why is the 3-month candlestick important to me?
On the monthly chart, a rejection formation formed in February-March, and the price was steadily driven downward.
The formation of the same formation on the 3-month chart would suggest the beginning of a real decline to the levels of previous years.
#PostonTradFi
On Friday, the sharp move to 69 could be interpreted as the price reaching the previous order block zone, where big money was loaded with longs.
On the first day of the week, the price attempted to move lower, but stopped—again—at a certain level—62% of the lower tail of the 3-month candlestick.
Why is the 3-month candlestick important to me?
On the monthly chart, a rejection formation formed in February-March, and the price was steadily driven downward.
The formation of the same formation on the 3-month chart would suggest the beginning of a real decline to the levels of previous years.
#PostonTradFi