XAGUSD Remains a “Buy the Dip” Market

From dailypriceaction.com

Silver, or XAGUSD, had a heck of a run between March and August. The metal went from a low of $11.62 on March 18th to $29.84 on August 7th. However, since peaking in early August, XAGUSD has experienced a significant pullback. Or has it? Although the retracement on the daily time frame (second chart below) looks aggressive, it isn’t. The 50% retracement of that March to August rally lies at $20.70, which hasn’t been tested yet. Of course, there’s still time for that. But the bigger story, in my opinion, is the way silver is holding above multi-year levels and also carving a massive bull flag pattern. First, ... (full story)