XAGUSD: This Chart Pattern Could Send Silver to $40

From dailypriceaction.com

On October 13th, I wrote about a bullish chart formation for silver (XAGUSD). The descending channel that has formed since the 2020 high at $29.80 appears to be a bullish flag pattern. A breakout from this pattern alone could send XAGUSD much higher. However, the pair is still consolidating. That may seem relatively bearish, but I assure you, it isn’t. The longer a market coils like this, the more aggressive the eventual breakout is likely to be. Furthermore, silver’s rally earlier this year was the start of something much bigger, in my opinion. Viewing the monthly chart above, you can see how XAGUSD has broken ... (full story)