XAG/USD Trading Analysis (11/06/2024)

The trend is ascending. The downward wave structure is truncated. Bears have tested the mirror level of 29.00. There is a bullish divergence on the Awesome Oscillator, and the moving averages of the Stochastic Oscillator are out of the oversold zone.

Trading idea:

Buy when the formation of the ascending wave structure begins, when the wave A breaches the sloping channel of the downward truncated structure.

Stop-Loss under the local minimum of the downward structure at 29.00.

Target price levels at 30.20 and 31.50.

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