Chart of the Day 16th December 2020
The reason the silver market (XAGUSD) looks bullish near term is for 3 different reasons:
(1) We closed above the descending trend line from August highs.
(2) We closed above the 24.46 61.8 Fibonacci retracement.
(3) We invalidated a possible head and shoulder setup, therefore squeezing near term shorts. The 26.11 highs from early November look to be in play now.
