rising wedge pattern bitcoin and gold were flying and now silver also flying
price is overbought and it has made rising wedge chart patten
Silvershort
Short SILVERIf the candle (1 day) closes below the last one, I believe it will go down.
Hit me up if you agree with me
Will SILVER Finally Break The Support Level?Hi Traders!
There is a potential breakout on SILVER as it tries again to break the long-term support level.
Here are the details:
Looking at the price action, it looks bearish; the market swings are lower with lower highs and lower lows. The market has broken and closed under the 20 EMA, and this is the third time around the 21.885 support level.
The plan is to wait and see how the market reacts at 21.885. If the market holds above this level, then it will likely target the resistance trendline. However, if there is a break and close below 21.885, there is a good chance of targeting the long term support level at 20.696.
Preferred Direction: Sell
Technical Indicators: 20 EMA
Resistance 1: 22.639
Support 1: 21.885
Support 2: 20.696
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
"Silver's 44-Year Cup and Handle Formation"Silver: 44-Year Cup and Handle Formation Points to Bullish Continuation
Silver, a timeless asset with a rich history, is capturing the attention of investors as it forms a 44-year cup and handle pattern, signaling potential bullish continuation. The current compression of the handle, coupled with a bullish pennant setup, suggests that a breakout could herald the onset of the next major bull cycle. Let's explore the dynamics of silver and the promising prospects it holds for investors.
Understanding Silver's Cup and Handle Formation
Silver's cup and handle formation is a classic technical pattern characterized by a rounded bottom (the cup) followed by a consolidation period (the handle). This pattern typically signifies a period of accumulation and sets the stage for a potential breakout to higher levels. With the cup spanning 44 years, the formation holds significant historical significance and suggests a prolonged period of bullish sentiment.
Compression of the Handle and Bullish Pennant Setup
Currently, silver's handle is undergoing compression, indicating a tightening range of price movement. This consolidation phase is often accompanied by diminishing trading volumes, reflecting indecision among market participants. Additionally, the formation of a bullish pennant within the handle further reinforces the bullish bias, as it typically precedes a continuation of the prevailing uptrend.
Breakout Signal for the Next Major Bull Cycle
A breakout from the handle's compression zone is anticipated to signal the beginning of the next major bull cycle for silver. This breakout would validate the cup and handle pattern, confirming the bullish continuation thesis and potentially unleashing a significant upward move in silver prices. Traders and investors alike are closely monitoring key resistance levels for signs of a decisive breakout, which could mark a pivotal moment for silver markets.
Conclusion: Positioning for Bullish Momentum in Silver
In conclusion, silver's 44-year cup and handle formation, coupled with the compression of the handle and bullish pennant setup, suggest that the precious metal is poised for bullish continuation. As traders await a breakout signal for the next major bull cycle, strategic positioning and prudent risk management are essential for capitalizing on the potential upside in silver markets. With the historical significance of the pattern and the technical indicators aligning, silver enthusiasts are eagerly anticipating the next chapter in its enduring journey as a sought-after asset.
Inverse Head & Shoulders for Silver in-playThe 4 hourly Silver chart is showing initial signs of a potential inverse head and shoulders pattern. With confirmation of this pattern, I will be looking for a long position at 22.50. My target will be a long position towards the 23.50 resistance and supply zone.
SILVER 4H : Support further decline SILVER
New forecast
The price of silver continued to decline, breaking the 23.00 level and closing the daily candle below it, confirming the resumption of the downward path in the immediate term, opening the way to head towards 22.60 and 22.23 as the next main target.
Therefore the downward scenario will be remain valid and effective during coming period ,The moving average 50 constitutes negative pressure that supports the continuation of the proposed bearish wave, which will remain in place provided it remains below the 23.00 level.
The expected trading range for today it will be between support 22.23 and resistance 23.50 .
Additionally ,Today News will affect on the market .
resistance line : 23.00 , 23.50
support line : 22.60 , 22.23
Attention : We don't have any group in telegram be careful about scammer.
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
📉🌑 Silver's Moon Trip Cancelled: Eyes $22 in Downtrend 🎯🔻💥It is possible that the Silver RSI trend line may be retested, indicating a decrease in momentum from buyers. Consequently, there might be a continuous downtrend leading to a price point of $22. It is advisable to prepare for this ongoing downtrend.
Sellers can still take advantage of the fresh bear trend on the hourly chart, providing opportunities for short sellers to make a profit.
📉🌑 Silver's Downward Spiral: Aiming for $22, Then $18 🎯💫Following my recent sell analysis on Gold. Silver is also a short from here.
Silver 6 weekly chart: Shows resistance and the bearish trend is strong.
Target 1: $22
Target 2: $18
The bear trend is the same with gold.
The current trend is pointing downwards. You need to devise a plan to execute your trade accordingly.
Short silver...Silver dont momentum to breake tight channel and has chance to touch lower band of his channel.
Trade safe.
Good luck.
#SILVER: A strong sell off expected! Dear Traders,
OANDA:XAGUSD a strong sell off is expected on silver this week. Firstly because recently price have been overbought and there is going to be ' a strong bearish impulse' due to adjusting he market equilibrium. Secondly, the NFP and other strong news that can affect the silver future price significantly.
We will have to keep close eye on the price action if price does not respect our zone then the idea will be automatically invalidated. we will update on this as we progress.
Silver - down and then up?Silver - down and then up?
As you can see, the price is in a correction mode now, but we are in an up-trend, and not just this, but also in ascending triangle + possible W reversal in up..so the support zone is a good area for long.
EURUSD) NEXT MOVIE)🤷hello traders what do you think about this analysis trading ideas 💡😁💡
Euousd sellers return to Resistance levels)
Follow up with my trading ideas 💡😁💡
XAG-Silver Sell opportunity Hi dudes. I'm waiting for sell on silver for the week ahead. Sell zone opportunity on 1H. To notify the free signals, analysis, follow, boosts, comments, and write questions. Observe the money management (Use 1~3 % of your balance for each signal) and the stop loss.
Silver 4H : Waiting for News SILVER
New forecast
The price of silver rose in yesterday's trading with noticeable positivity, penetrating the 22.23 level and settling above it, and approaching the 22.50 level to provide negative signals as long as the price is trading below the mentioned level.
Therefore the downtrend scenario will be remain valid as long as price trade under 22.50 supported by moving average 50 that is continue to support the price to decline but to confirm the bearish trend should stable under 22.23 and then will help the price to reach 21.97 and 21.60 , taking in to account that stabilized above 22.73 will postponed the bearish attempts and start the positive waves . so it is possible to continue at the positive correction until 22.73 and then dropping .
The expect range trading for today it will be between resistance line 22.73 and support line 21.97 until stabilized .
Additionally , Today News will affect on the market .
resistance line : 22.50 , 22.73
support line : 22.23 , 21.97
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
SILVER 4H : Still support further decline SILVER
New forecast
The price perfectly fulfills my last idea and price reached to our targets .
The price of silver declined and succeeded in achieving our second expected target at 22.23, and opened the day with a strong decline to break this level and confirm the continuation of the dominance of the downward trend, paving the way for heading towards our next target, which reaches 21.35 and stabilized under it will reach to 20.91 and to confirm the bearish trend should stable under 21.97 and then our target will be activate .
Therefore, the downward trend scenario will remain effective for the coming period supported by moving average 50, noting that the breach of 22.23 will stop the expected decline and lead the price to begin recovery attempts in the intraday term.
The expect range trading for today it will be between resistance line 22.23 and support line 21.35 until stabilized .
resistance line : 22.23 , 22.50
support line : 21.97 , 22.35
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Silver has a big problem!
Let's take a look at silver pricing together. Silver has been consolidating for a long time in a range. Every time silver tried to go higher it was rejected. We are already at the end of the consolidation, where the bears are cutting every move up. I don't see any signs that the price is going to go higher again. it can be seen how the price was gradually rejected from the top and further from 0.6 Fib and 0.5 Fib. Subsequently, we soon expect a steep drop to a value of around 21d.
Silver is trading within descending channelFrom the start of the month may XAGUSD/Silver is in downward movement after forming a double top formation. Ever since this drop its forming clear descending channel. Within this bigger trend formation We can see some rising wedge formations which is indicating the upcoming bearish trend until this trend gonna breakout. The price is currently below 50% Fibonacci level. In Elliot wave analysis currently larger third way is under formation.
XAG SILVER Neowave - Elliott Wave Theory Analysis (Medium Term)Silver is forming a potential diametric structure in the medium term and the second phase of this structure has begun. The potential route I expect the price to follow is indicated in the image (with dotted lines).
The wave e of the diametric structure is estimated January 15, 2024. We can say that we will be in a bear market for the next 2 months. After that, the structure will be completed with the rise of f and the fall of g.
With the completion of the structure, I think we will enter a prolonged bull market. Maybe a short but sharp rise in time, or a market period spread over time... We will analyze this in the sequel.
Your support is important for me, I can say it is a source of motivation. So thank you for that.
SILVER 4H : still support further decline SILVER
New forecast
The price of silver rose yesterday and achieved immediate gains to test the 22.73 level, and we notice that the price bounced down from there in an attempt to resume the expected downward trend in the immediate term, waiting to test the 22.50 level initially, remembering that breaking this level will push the price directly to 22.23.
Therefore the downtrend scenario will be remain valid and effective for the coming period supported by moving average 50 that is continue to support the price to drop , taking into account that stabilized above 23.00 level will end the downtrend .
The expect range trading for today it will be between resistance line 23.73 and support line 22.23 until stabilized .
Additionally ,Today News will affect the market .
resistance line : 22.73 , 23.00
support line : 22.50 , 22.23
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
SILVER 4H : Under 22.73 will be downtrend againSILVER
New forecast
The price of silver begins today's trading with negativity, trying to break the 22.73 level and settle below it. By breaking it, it will head towards a shift in the direction to the downside, and we expect the bearish tendency to continue to test the 22.50 and 22.23 areas mainly.
Therefore, we expect to witness further decline in the coming sessions, but on the condition of holding below 22.73, keeping in mind that a stabilized above 22.73 again will reactivate the bullish wave targeting the 23.12 level initially.
The expect range trading for today it will be between resistance line 23.12 and support line 22.50 until stabilized .
resistance line : 23.12 , 23.35
support line : 22.74 , 22.50
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
SILVER- Keylevels - WeeklyAt the moment, due to the fact that gold remains bullish, I will remain neutral-bullish on Silver as well
SI1! (Silver Futures) SHORT to $18.50In a few days COMEX:SI1! will probably break down MA 200 on 1W and go down to first $18.50 price target in its long way to $13-$16.
Technically Silver Futures finishes C wave in its big correction move.
SILVER 4H : Under sell pressure SILVER
New forecast
The silver price found strong support formed at the breached resistance of the descending subsidiary channel, to test the pivotal resistance 23.12 now, and maintain its stability below it so far, which supports the chances of a downward bounce to resume the expected downward trend for the coming period, whose next main target is located at 22.73.
Therefore, the downward trend scenario will be remain valid and affective and we continue to favor the downward trend in the immediate term, taking to account that breaching 23.12 will lead the price to achieve new gains so above 23.12 the price will try to retest before dropping.
The expect range trading for today it will be between resistance line 23.35 and support line 22.23 until stabilized .
Additionally ,Today News will affect the market .
resistance line : 23.12 , 22.50
support line : 22.73 , 23.00
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
