XAG/USD (Silver) dropped at the end of Feb, as per our previous SHORT Analysis posted, and has recovered most of its losses since then.
Intermediate Wave (A) (blue) unfolded as a Zig-Zag (ABC (red)) and Intermediate (B) (blue) is facing difficulties at the 78.6% Fibonacci Retracement Levels.
Intermediate (B) (blue) is almost complete and awaiting the Bearish Divergence so that the Intermediate (C) can make its way in.
XAG/USD (Silver) – Short Positions:
Aggressive Entry – 18.15
SL – 18.34
Conservative Entry – 18.34
SL – 18.60
TP 1 – 17.10
TP 2 – 16.80
* Countermeasure – when in the green, move SL to break-even or in profit
* If Conservative, watch for the Bearish Divergence
* Note that we are expecting this to be the last weakness for XAG/USD (Silver) and that we will be looking forward to LONGS after.