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XAGUSD 2 Aug 2023

XAGUSD 2 Aug 2023 on the Daily timeframe. This commodity is still ranging between R1 and R, at a price of 24,322 and almost touching the R1 line. Although it looks above the kumo cloud on the ichimoku indicator, but this commodity is in a bearish trend. If it manages to change the trend to bullish when it touches R1, then go-long can be an option for traders. But on the other hand if it breaks R1 towards S1, then go-short is an option. Keep on learning the indications and decisive factors before making a trading decision.

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