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Silverforecast

Don't miss the great buy opportunity in XAGUSDTrading suggestion: . There is a possibility of temporary retracement to suggested support line (17.80). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . XAGUSD is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 62. Take Profits: TP1= @ 18.32 TP2= @ 18.72 TP3= @ 19.63 SL= Break below S2
OANDA:XAGUSDLong
by ForecastCity
11
Silver Losing Momentum In silver, we had a strong move upwards from the $17/oz range to a high of roughly $19.755/oz. Recently, however, the price has failed to maintain momentum to regain those highs and has steadily pushed lower in an evident regression trend on the daily chart from 05 Sep 2019 to the present. I believe that silver will retest the $17/oz range, and from there, we will have a stronger confirmation on the short term direction of silver's price. As well the gold to silver ratio rebounded from a yearly low of roughly 1XAU:79.38XAG to currently 1XAU:84.89XAG. In the meantime, I believe silver to be a short trade. However, in the long run, silver seems to be bullish as the gold to silver ratio is at historical peak levels.
COMEX:SI1!Short
by Zacmando
A second Chance to Buy in SilverMidterm forecast: 15.60 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: The RSI bounced from the support #1 at 48 and it prevented price from more losses. A trough is formed in daily chart at 14.89 on 07/05/2019, so more gains to resistance(s) 16.20, 17.20, 18.10 and more heights is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 73. New trading suggestion: *There is still a possibility of temporary retracement to suggested support line (15.60). if so, traders can set orders based on Price Action and expect to reach short-term targets. * If you missed our first HUNT , you have a second chance to buy above the suggested support line (15.60). Entry signal: Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons : Trade Setup: We opened 6 BUY trade(s) @ 15.21 based on 'Valley' entry method at 2019.07.10. Total Profit: 438 pip Closed trade(s): 144 pip Profit Open trade(s): 294 pip Profit Closed Profit: TP1 @ 15.30 touched at 2019.07.11 with 8 pip Profit. TP2 @ 15.60 touched at 2019.07.16 with 38 pip Profit. TP3 @ 16.20 touched at 2019.07.18 with 98 pip Profit. 8 + 38 + 98 = 144 pip Open Profit: Profit for one trade is 16.20(current price) - 15.21(open price) = 98 pip 3 trade(s) still open, therefore total profit for open trade(s) is 98 x 3 = 294 pip All SLs moved to Break-even point. Take Profits: TP4= @ 17.20 TP5= @ 18.10 TP6= Free
FOREXCOM:XAGUSDLong
by ForecastCity
6
XAGUSD Silver, ready for a correction?After an impressive bull run, Silver had a very indecisive day on Friday printing a huge sideways candle. This could lead to a correction move to retest the 15.6 level that was broken without a retest. We also see that RSI has entered overbought territory. That, by itself means nothing but after that clean bullish move could mean that the price needs some oxygen before continuing running. Lets look at the 4H chart: I felt artistic and decided to hand draw the Price Action I am expecting to see :)) The price sky rocketed from 15.18 resistance area all the way to 16.6 where bears started to take control. This could well be profit taking on a Friday but could also mean that the price is correcting. The price has been overbought for a while and retesting the 15.6 level or even the 15.18 level would be a healthy sign. This being said 16.11 is a very important area. If the price breaks below, it will be my signal to get ready to jump into that corrective move. I will be looking at exact entry and exit points when/if that happens. Do you think Silver will continue its bullish run or not? Please let me know in comments!
FOREXCOM:XAGUSDShort
by MicKi
XAGUSD (Silver) Analysis: Bullish Chart Pattern A breakout and price close above 16.202 is bullish for Silver….bullish price swing should last for weeks to months. The Daily timeframe is examined in today’s XAGUSD analysis with coverage from price peak of 21.00 on July 1, 2016 to current date. The major trend in Silver ever since its peak of 21.00 is bearish. The chart pattern that is of consideration in this analysis is the falling wedge chart pattern (diagonal). Another chart pattern that would also be valid for price action in XAGUSD is a bearish price channel. In either case, a bullish breakout upon confirmation is ideally anticipated. Further discussion will focus on the use of a falling wedge in conjunction with other important aspects of the chart annotation. The 50 day and 200 day moving average of XAGUSD is used to help maintain proper perspective in price action with XAGUSD currently consolidating at the 200 day MA. A break below the 200 MA is bearish and could possibly trigger more selling, with a close below 14.52 increasing the chances of XAGUSD testing the lower boundary of its falling wedge. 16.202 and 15.594 are indicated on the chart as immediate resistance price levels in XAGUSD. The most conservative strategy to go long (buy) involves buying on a breakout above 16.202. Less conservative strategies would seek to buy prior to confirmation or price close above the upper boundary of the wedge. A great advantage of understanding chart patterns is their forecasting ability. Assuming the use of a bearish price channel for example, the width of the channel can be used for a bullish silver forecast long term once price closes above the upper boundary of the channel. Such projection would be the minimum price anticipated for the bullish swing with the trade expected to last for weeks to months.
FOREXCOM:XAGUSDLong
by Coin_Analyst
SILVER - BUYSilver is a very important commodity, in fact it is even more useful that Gold. As only about 10% of produced Gold is used in various manufacturing, rest 90% goes for jewelry and just as safe haven, where Silver's 50% goes for manufacturing as an example your touch-screens, solar energy and medical sectors... But I'm not here to predict future of humanity :) Key things to note before analysis: - Top countries producing silver are Mexico, China, Peru, Russia, Australia, etc. Take into account their relationships with US, tariffs, their currencies vs USD. AUD/USD for instance, started to rebound already and has a huge way up to go. USD even if strong (as always) may strengthen a bit more, but has to go for correction anytime very soon. - Commodity market, for ex. Gold have shown reversal. Now Gold is a "Buy on dips" for majority and by far not many want to trade against its Bullish trend. - Assuming the average production price globally is $11.74 price still can go down, despite already some smaller producers are selling for a cheaper price (as their production cost is around $15). That is ok(ish) because the demand has lowered during last 2 years. But, India (which is major buyer) has increased its demand this year. - Demand will keep rising for Silver, but producers will definitely not want to increase production. For example Jewelry demand has already risen. "Why would I buy expensive gold jewelry during these crisis times. I want to save. Also silver is useful for health, it kills one-cell bacteria..." ;) - If commodity currencies rise, commodities prices will rise. Duh?! Ok, now the chart: Please pay attention to corrections, how they are broken and movements inside the channels. I have marked with red arrows price action which is less likely to happen and blue arrows show most likely to happen. So, I am expecting the price to test $16 latest by Feb 2019 and reach around $20.30 by April. The buy zone is reached for me and will SL at around key levels. If $13.58 is broken, I will look to start adding more at around $12 So this is a longer term trade. Please comment, share and like.
TVC:SILVERLong
by BerdRadar