FX.co ★ lstanton | XAG/USD, SILVER

Hello everyone! On the SILVER market on the H4 chart, you can see a zigzag price movement. This may indicate the formation of either an expanding diagonal triangle, which does not yet have a clear direction, or a horizontal triangle with a likely downside breakout.

During the analysis, the following were considered: EWA (Elliott Wave Analysis), MACD histogram readings (Moving Average Convergence/Divergence indicator), and the positioning of the exponential moving averages MA Smoothed (periods: 55, 89, 144), as well as a probabilistic assessment of technical and wave analysis patterns. The priorities are set taking into account correlation with related markets.