InvestMate|XAGUSD Squeezing out the increases🥈

🥈XAGUSD Squeezing out the increases

🥈Looking at what has been going on in silver in the last few days, it can only be called a squeeze of increases.

🥈Looking at the dynamics of the candles and the great interest in buying silver.

🥈I couldn't leave out this commodity in today's analyses.

🥈We have broken out of the first support zone determined by the 0.382 level of the entire downward wave from the 2021 peak to the 2022 low.

🥈I am currently at the next support zone determined by the 0.382 level of the entire upward wave from the covid bottom to the 2021 peak.

🥈Ahead of us is a strong resistance zone determined by a cluster of two fibo levels. The first is the 0.5 level of the entire downward wave from the 2021 peak to the 2022 bottom. The second is the very strong 0.618 level of the entire upward wave from the 2008 bottom to the 2011 peak.

🥈This is where I look out for a strong price stop.

🥈The scenario I am playing out is to squeeze the upside in order to reach a strong resistance zone where I expect some kind of reaction, perhaps a price stop. I am aware of the possibility of a correction at any time, this should be taken into account, If the outlook would change I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.

🥈*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario.

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