Silver- Yet another important resistance brokenSimilar to Gold, CPI also triggered a resistance break for Silver, unlike Gold though, yesterday XagUsd has broken also above another important level...
At this moment chart structure is very bullish and we could expect another rally to 26 recent high.
24.50 old resistance is now support and in this zone, traders should look for buying opportunities.
Silveranalysis
BluetonaFX - SILVER Ascending Channel 24.000 Target HIT!Hi Traders!
Our Silver ascending channel opportunity (LINK TO ORIGINAL IDEA BELOW) from a few days ago worked to perfection, and the market agreed with our bullish view. The 23.228 was finally broken with momentum, and we had a massive bull rally to our profit target of 24.000 to fulfil our opportunity.
We are now trading just above the 24.000 level. There is another resistance level at 24.521, so if the bullish momentum continues, that will be the next target.
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Thank you for your support.
BluetonaFX
DeGRAM | SILVER in upward channelSilver is in a bullish trend. It had higher highs and higher closes.
Price is coiling up before expansion by creating a consolidation zone following bullish momentum.
We expect pullback to support and fibo level and look for buying opportunities.
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SILVER Forecast 6July2023if this is an a-b-c correction and wave c is usually the same length as wave a, then there is a high probability that XAG will go down.
This is signaled by the current price at the trendline and strong resistance area. if XAG turns out to respond positively to the trendline and makes a strong bearish signal, then it is likely to go to fibo extension 1.
XAGUSD I Overextended "W" formation Welcome back! Let me know your thoughts in the comments!
** XAGUSD Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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BluetonaFX - SILVER Potential Double Top OpportunityHi Traders!
There is a potential double top pattern forming on the Silver 4H chart. This depends on the very important level on the chart, which is 23.091.
Originally, we had a price rejection at 23.091, which we marked on the chart. The price rejection formed a price channel to the downside; there was then a break of this channel in an attempt to re-test 23.091, and we have found resistance again near this level.
If 23.091 holds again, the chart pattern will become a double top pattern, which is bearish. If there is a momentum break and a close above 23.091, the potential double top will be broken, and then there are long-term levels to the upside. We have a calculated long-term Vector level of 24.205.
There are opportunities for possible entries near 23.091, or another option is to wait either for a confirmation sign of a breakout or a reversal. There are great risk-reward opportunities for both options.
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BluetonaFX
China Solar Demand Surges and Silver Mining Supply ConstrainedChina, the global powerhouse, has recently witnessed an astounding surge in solar demand, skyrocketing by a remarkable 14%! This tremendous growth is a testament to the country's commitment to clean energy and sustainability. As investors, we can capitalize on this upward trajectory and positively impact our portfolios and the environment.
In addition to the soaring solar demand, the mining supply of silver, a precious metal with diverse industrial applications, is facing constraints. This development presents an intriguing scenario for those seeking to diversify their investment portfolios with a long-term perspective. Silver's versatility and pivotal role in various industries, including solar energy, electronics, and healthcare, make it an attractive asset.
Now, how can we seize this opportunity? Well, the answer lies in strategically adding silver to our investment portfolios. By doing so, we can benefit from the increased demand driven by China's solar growth while also taking advantage of the supply constraints in the silver mining industry.
As investors, staying ahead of the curve and proactively identifying emerging trends and opportunities is crucial. Therefore, consider including silver in your long-term investment strategy. Its growth potential and the positive environmental impact of supporting clean energy initiatives make it an exciting prospect for any forward-thinking investor.
Remember, investing is not only about financial gains but also about contributing to a sustainable future. By adding silver to our portfolios, we can align our investments with our values while potentially reaping substantial rewards.
Exciting Opportunity: Will Silver Bounce Off the MA50 Again?Our favorite shiny metal, silver, is gearing up for another potential bounce off the MA50, and I couldn't be more thrilled about the possibilities it presents.
As avid silver traders, we have witnessed the power of technical analysis and the significance of key moving averages. The MA50 has proven to be a reliable indicator, acting as a strong support level for silver's price movements. And guess what? It's happening again!
Over the past few weeks, silver has been exhibiting a fascinating pattern, aligning itself with the MA50. This convergence has historically led to significant upward movements in silver's price, making it an ideal time to keep a close eye on this precious metal.
You might be wondering why you should be excited about this. Well, my fellow traders, the potential for substantial gains is again within our grasp! By putting silver on your watchlist and staying tuned to its price action, you can seize the opportunity to capitalize on a potential bounce off the MA50.
Here's your call to action: Add silver to your watchlist today. Stay vigilant, keep a close eye on the MA50, and be prepared to take action when the time is right. This exciting opportunity could lead to remarkable profits, and you will want to take advantage of it!
As always, please remember that trading involves risks, and conducting thorough research and analysis is essential before making any investment decisions. Stay informed, stay disciplined, and always trade responsibly.
Silver or XAU/USD hits golden crossI am thrilled to share some exciting news - silver has just hit a golden cross!
For those unfamiliar with the term, a golden cross is a technical analysis term that occurs when the 50-day moving average exceeds the 200-day moving average. This bullish signal indicates a potential upward trend in the price of silver.
This is fantastic news for all who have closely monitored the silver market. Considering long silver and taking advantage of this upward trend is an excellent opportunity.
So, I encourage you to consider your investment strategy and add silver to your portfolio. With the golden cross in place, it's an ideal time to take advantage of this bullish signal and potentially profit from the upward trend.
DeGRAM | Silver a trend continuation opportunitySilver dropped from the resistance, and it created a descending channel.
Price action created a resistance and a fibo level as confluence zone.
If the market fails to break through the resistance level , we can sell from the confluence level.
We anticipate a trend continuation trade.
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done your first target now at support#SILVER... market just reached at your target zone after breakage 23.07 now market is at his supporting area...
keep close 22.57 for a supporting area..
market should hold it in minimum hour chart if its buying turn now..
below that area next areas are mentioned on chart..
trade wisely
good luck..
Silver Short Term Sell IdeaH4 - Bearish trend pattern followed by a double wave correction.
Price respected a strong resistance zone and bounced lower.
Price has currently broken below the most recent uptrend line.
H1 - Bearish trend pattern.
No opposite evidences.
Until the two strong resistance zones hold I expect the price to move lower further after pullbacks.
XAGUSD - DAILY TIME FRAMEThe Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart).
Note: Its my view only and its for educational purpose only. Only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves.
we do not get into bullish or bearish traps. We anticipate and get into only big bullish or bearish moves (Impulsive Moves). Just ride the Bullish or Bearish Impulsive Move. Learn & Know the Complete Market Cycle.
Buy Low and Sell High Concept. Buy at Cheaper Price and Sell at Expensive Price.
Keep it simple, keep it Unique.
please keep your comments useful & respectful.
Thanks for your support....
Tradelikemee Academy
SILVER (XAGUSD): Key Levels to Watch This Week 🪙
Here is my detailed structure analysis for Silver.
Support 1: 23.84 - 24.06 area
Support 2: 23.25 - 23.44 area
Support 3: 22.67 - 22.73 area
Resistance 1: 24.28 - 24.88 area
Resistance 2: 26.04 - 26.13 area
Consider these structures for pullback/breakout trading this week.
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Silver Linings Trade BookAt the expense of using a mixed metaphor, silver may at times appear to be a mercurial trading instrument. Even if you only trade silver as a CFD product, utilising pure technical analysis, and without holding any of it as a physical asset, you should still be aware of the macroeconomic context that influences this metal alongside supply and demand fundamentals. Silver, according to many players in the market, is heavily manipulated by some of the big banks as well as the U.S. Fed and Treasury. By manipulation, we mean a suppression of the real price of silver given bullish fundamentals that should translate into much higher prices.
Let’s first discuss the safe haven nature of silver. Four precious metals typically interest safe haven investors, namely gold, silver, platinum and palladium. It may come as a surprise to many that gold is not always the strongest and safest of havens and indeed during certain periods, silver, along with platinum and palladium, has acted as a safe haven when gold has not. Silver has been resilient in this regard as seen through the Covid-19 pandemic when its position as a safe haven asset climbed 47.89% between 31/12/2019 and 31/12/2020 compared to 25.12% for gold, 25.86% for palladium and 10.92% for platinum during the same period.
Silver’s backbone though is built from its use as an industrial metal and although industrial demand has been fickle since Covid-19, that’s still not been as fickle as investment demand since that time. As of January 2020, industrial buyers accounted for more than 50% of demand for the metal. Recent bearish economic data from key markets such as the U.S., China and Germany has put a lid on any attempts at a parabolic move eyeing the highs of Feb 2021 despite gold hitting an all-time high recently. When the global economy emerges from troubled waters, the global drive for cleaner energy will resume in earnest and make silver a key decarbonisation trade and we may see a resumption of the 2020 bull run. There is still room for a momentum rebound with a change in sentiment and consequent space to manoeuvre between where we are at the moment and the $30 high reached in early Feb 2021 and between that top and the all-time high of $49 in 2011.
Technical traders using leverage on gold CFDs, especially intra-day traders, get nervous when they look at the price action of silver in comparison. Silver’s price action is not as smooth as gold’s and the daily ranges may also appear tighter in comparison but this is in part due to silver’s wider use in industry compared to the yellow metal. As a result, silver has more cyclical characteristics than gold but this helps contextualise patterns and trends for trade analysis. Traders are losing out on not trading silver because intra-day trades as well as swing/position trades can offer an excellent risk to reward ratio with this instrument. Silver, like gold, is also offered by many brokers with a very reasonable spread and ones that are also much lower compared to platinum and palladium. As always, remember that when you go to market, be careful out there.