Silver (XAGUSD) has successfully followed up the May - August 2024 Bull Flag with a green September 1M candle that recovered all loses. Having broken above its Resistance, the trend looks more bullish than ever, especially on the hyper long-term 1M time-frame.
We can view the whole sequence since 2021 as a Cup and Handle (C&H) pattern. Interestingly enough, this is not the first time we see a similar pattern historically. Based on the 1M RSI fractal, we can see similar Arc patterns formed in 2008/09, 2000/03 and even 1974/78.
All of them rose to the 2.0 Fibonacci extension level from the Cup's top. On the current pattern at hand, the 2.0 Fib is a little higher than 50.000. Keeping in mind that the new Cycle of Rate cutting has already started by the Fed, buying a stable asset such as Silver under this economic environment, is perhaps one of the best investments we can make for 2025.
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We can view the whole sequence since 2021 as a Cup and Handle (C&H) pattern. Interestingly enough, this is not the first time we see a similar pattern historically. Based on the 1M RSI fractal, we can see similar Arc patterns formed in 2008/09, 2000/03 and even 1974/78.
All of them rose to the 2.0 Fibonacci extension level from the Cup's top. On the current pattern at hand, the 2.0 Fib is a little higher than 50.000. Keeping in mind that the new Cycle of Rate cutting has already started by the Fed, buying a stable asset such as Silver under this economic environment, is perhaps one of the best investments we can make for 2025.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
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🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.