Silvershort
#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 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.
High's placed sofar?? #SILVER... As we discussed about 23.4 in our last Idea, and you can see how market hold 23.04 and placed around 23.40 as day high in yesterday,
According to pattern I think market have placed his current highs,
Now If market hold yesterday high then it can drop further and come back to his supporting areas,
Now only plan for further buying will be valid above yesterday high otherwise not .
Trade wisely
Good luck
XAGUSD I Short from resistance Hello,Traders!
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XAGUSD is trading in a downtrend
on the daily, however after the recent bullish impulse
and bullish engulfing candle on the weekly, we believe a
correction to 22.28 is in process and then, more
potential upside is probable. Short!
Trade safe and good luck!
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Check out other forecasts below too!
A bearish retest of #silver ? #gumus #xagtryg#silver is now on retest of broken trendline in rising channel. In this retest, if price declines, i expect more dump. NOT FINANCIAL ADVICE.
#gumus su an kirmis oldugu trend kanalina tekrar girmek icin retest yapıyor, bearish retest dedigimiz bu fiyat ataginda onumuzdeki hafta basi itibariyle sert deklinasyonlar gelirse bu #xag gumus fiyati trendinde bir sure ayi piyasasi olusturabilecektir. Sadece teknik ongorudur , her zaman kendi kararlarinizi kendiniz verecek durumda olunuz. YATIRIM TAVSiYESi DEGiLDiR.
Today's update for silver 4H Hello everyone, The silver price is showing noticeable positive trading to approach our expected target of 21.95, and we remind you that exceeding this level will lead the price to achieve additional positive targets of up to 22.29 in the near term.
The expected trading range for today is between support 21.60 and Resistance 22.29
Pivot Price:21.95
Resistance Price: 22.29 & 22.45 & 22.71
support price: 21.77 & 21.60 & 21.41
The general trend expected for today: Bullish
Timeframe: 4H
Silver Breaking down: Symmetrical TriangleSilver (US$/Oz) Breaking drown from a long term support trendline (22.197 levels).
Crucial support levels to look for : 21.376, 20.7-20.52 and worst case 19.945. Although if macro factors support we can see a demand uprise and a subsequent pull back to 21.376 and rally upto previous long term trendline levels.
BluetonaFX - SILVER Triangle Break SHORT IdeaHi Traders!
SILVER is approaching the trendline support of its symmetrical triangle and there is a possibility of a breakout to the downside.
Price Action 📊
There was a momentum break and close below the 20 EMA along with market swings showing lower highs and lower lows.
We are looking for a break and close below the trendline support.
Fundamental Analysis 📰
The market's demand for Silver is currently low due to current high demand for the US dollar.
Support 📉
22.232: TRENDLINE SUPPORT
Resistance 📈
22.868: PREVIOUS DAY'S HIGH
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
SILVER 4H (Pivot Price: 22.61)Silver
stabilizing above 22.61 will support rising to touch 22.80 then 22.94 then 23.13
stabilizing under 22.61will support falling to touch 22.39 and then 22.20
Pivot Price: 22.61
Resistance prices: 22.80 & 22.94 & 24.13
Support prices: 22.39 & 22.20 & 21.98
The expected trading range for today is between support 21.98 and resistance 22.80
The general trend expected for today: bearish
timeframe: 4H
SILVER 4H (Pivot Price: 23.48)Silver
stabilizing above 23.48 will support rising to touch 23.77 then 23.99 then 24.13
stabilizing under 23.48 will support falling to touch 23.14 and then 22.95
Pivot Price: 23.48
Resistance prices: 23.77 & 23.99 & 24.13
Support prices: 23.14 & 22.95 & 22.81
timeframe: 4H
silver ( xagusd ) Long Term Trading IdeaHello Traders
In This Chart silver HOURLY Forex Forecast By FOREX PLANET
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