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Silversignal

Silver Price Forecast - Cup & Handle In SightToday I am review the Silver price (precious metal per oz) forecast. The multi-year chart is on an annual (12M) basis on a linear scale. After 40 years, the Silver price formed a cup and handle pattern since 1980. This is incredible. Unfortunately the price has not broken out yet and it seems in 2021, the price is still below the trendline of the pattern. As the price took 40 years to get to this point, it will take time for a breakout. Assuming the price breaks out, the target price from this pattern is about $60. That would be a 146% gain. This may take more than a decade to happen though. In 2011, the price created an all time high at around $50, but also created a shooting star candle which is bearish. This brought the price down to create the handle of the cup and handle pattern. Lastly, the Fibonacci Extension level brings the target price to 1.618, which is the Golden Ratio. Keep in mind that it took the price 40 years to get to this bullish pattern of cup and handle, so expect the price increase to take a very long to reach the target (unless of a catalyst event that may occur). Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
TVC:SILVERLong
by MillionaireEconomics
Silver May Test 26.50 / 26.80 after breaking above 24.80 Silver has closed above the long-term descending trend line that started in June 2021. But we need to wait till it breaks out above the 24.80/25 price zone for a long-term buy. 24.80/25 is identified as immediate resistance and double top price zone. Before June this year, when silver was above 28.80/25 price zone, it acted as strong support. Many times market-tested 24.80/25.00 price zone and silver bounced back to the upside. So, as the market stays below the 24.80/25 price zone, we should enter the market after breaking above the 24.80/25.00 price zone. So, breaking above the 24.80/25 price zone, our first target will be at the 26.50/26.80 price zone. There is a chance that the silver price may go to the downside correction from that level. In case, market breaks above the 26.80 price zone, our final target to the upside is 28.20. On the other hand, from the present rate, immediate support is identified at 23.00. and low swing price is 21.50 price zone. So, as long as the market is above the 21.50 price zone, we should not sell.
TVC:SILVERLong
by Gold_Trading_Expert
1
Silver- Will it reach 28 by year's end. IMO, it willIn my previous Silver analysis, I've argued that 23 is a strong buy zone and the price reversed exactly from that zone, putting in a Pin Bar on our daily chart. As in Gold's case, Thursday and Friday the price rose and at this moment Silver is rising towards resistance. This resistance can very well be the neck-line of an H&S pattern and a break here would expose important 28 zone resistance. IMO the end of the year will be bullish for PMs and also a long trade for XagUsd with 28 target would have a 1:3 R:R
OANDA:XAGUSDLong
by Mihai_Iacob
11
#XAGUSD SILVER LONGTERM BUYING OPPORTUNITYIn Weekly time frame price has formed a line formation, and currently siting on a support area. As a result of this important support area price structure in 4H time frame has shifted to bullish as you can see and price is creating a HH and HL. Now price is above 4H timeframe 144 EMA and also price is in bearish corrective move for retesting a previous resistance area which because of price bullish move has turned to support. in lower time frames we have bullish divergence which is another confluence for our trading idea. Now if price fail to come below the 23.045$ which is our previous low and manage to create a HL comparing to that low in 1H time frame we can technically say this lower time bearish corrective move has ended and we can look for buying opportunity today. We should remember this is a long term buying opportunity and our target could be around the high of this weekly time frame line formation which is around 29$, so use a wide and good stop loss in order not to get stopped out of this big bullish move in line with your trading strategy.
TVC:SILVERLong
by mohemati
2
Silver- Strongly bearish under 22.50Yesterday I've argued that Silver can drop hard if it breaks the flag pattern. After the spike on FOMC XagUsd has dropped again, giving us a clear signal that the pressure is on the sell-side and at this moment is trading at 22.60, exactly above the horizontal short-term support and the ascending trend line of the flag. I maintain my bearish outlook and I'm looking to sell rallies or directly the break. The target can be the measured one at 21 or, in the short term, 22.30, the recent low support
OANDA:XAGUSDShort
by Mihai_Iacob
14
Silver May Test 22.40 Again Before Pull Back To The Upside. Gold and Silver always run in the same direction. 20/25 years back silver and gold had little divergence price gap. But the price gap between these two metals is really high. 250/300 years back gold and silver were only currency. though nowadays every country has its own currency and many digital currencies. but the necessity of Gold and Silver still exists. Gold is the highest market cap asset in the world nearly $11.137 Trillion and Silver in rank number 7 and total market cap holding nearly $1.317 Trillion (according to 8marketcap). Fundamental View Fundamentally, Silver is under a bit of pressure because of a stronger USD. U.S labor market reports, FED's hawkish bias altogether favoring USD. Yesterday US inflation report came negative but Silver is unable to push up again. which is a sign of investors being still not ready to buy silver again. we will have to wait till next week how about the US economic reports perform. The pandemic is still not over yet. as a safe haven silver may be priced in again if the situation goes worse again. Technical View this week silver tested the 22.40 price zone which is September 2020 swing low area. Silver bounced from that price and still has a chance to test the 22.40 price zone again. As long as the silver price is below 24.50 to 25.50 rice zone selling scenario won't change. 24.50 could be a better selling zone with a 25.50 stop loss and target 22.50 price zone. breaking below 22.40/22.00 price zone, we can't go for the long-term sell. on the other hand, if we see silver breaks above the 25.50 price zone, we may see another buying market. so, we will buy breaking above 25.50 price zone, target above the 28.00 price zone.
TVC:SILVERLong
by Gold_Trading_Expert
1