XAGUSD (Silver) Bullish and Bearish ScenariosSilverOANDA:XAGUSDKhan82The chart is quite clear. I am surprised when I see people on the internet getting confused about Silver's current price action. We were moving in a compression triangle since long. The support has been tested multiple times, and this time with a fundamental news that Iran and US have reached an agreement, at least for now. This should give a relief to the markets. Oil is going down today. So my preferred scenario, is scenario 1 (green) where I expect the price to go up from here and break the triangle to move a lot higher. But if it fails to break above the compression triangle and takes resistance, comes down and breaks the strong support, then we can expect much lower prices. In any case, I am looking higher prices from here. Disclaimer: This analysis is for education purpose only and it is not an investment advice. Do your own analysis and always manage risk.