Silver (XAG/USD) Price Forecast: Bullish Breakout Signals Higher Targets | Metals Mine

  • Silver (XAG/USD) Price Forecast: Bullish Breakout Signals Higher Targets

    From fxempire.com

    Silver broke out of an inverse head and shoulders pattern on Friday above $79.50 and then continued to advance on Monday. Both a lower swing high at $86.32 and the 20-day moving average at $85.53 were recovered on Monday. The 50-day average at $82.20 was reclaimed earlier on Friday. Silver reached a new breakout high of $88.03 and a 12-day high during Monday’s advance. A daily close above $86.32 will be needed to further confirm the breakout of the head and shoulders bullish reversal pattern. The bullish head and shoulders pattern formed at support near the top of a long-term rising trend channel. A bullish ... (full story)

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