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Silver Gains Traction: Short-Term Upswing Expected● Silver continues to exhibit a robust uptrend, having recently touched an all-time high of 34.9 before retracing to its key support zone around 29.8. ● Following a successful bounce off this level, the metal is now regaining momentum, positioning itself for further gains. ● Notably, the immediate resistance level – aligned with the 50% Fibonacci retracement, just 3% above the current price – presents a prime short-term buying opportunity for traders to ride the anticipated upswing.
OANDA:XAGUSDLong
by NaranjCapital
1
Silver’s U-Turn: Head & Shoulder Formation Triggers Sell Signal● After breaking out from the Rounding Bottom formation, the price soared to an impressive peak of $34.87. ● Subsequently, a consolidation phase unfolded, leading to the development of the Head & Shoulder pattern. ● We expect a swift drop once the neckline is breached, potentially retracing the price back to its earlier breakout point. Key levels to watch ● Entry : Below $33.4 ● Potential Target : $32.7 ● Stop-loss : Above 33.7
OANDA:XAGUSDShort
by NaranjCapital
Unraveling Silver's Price Puzzle: Volume Profile AnalyticsH ello, As I draft this article, the price of silver is currently hovering above the key level of $31.2. This level is considered "key" because it represents a significant point where large buy and sell forces meet, as indicated by the volume profile at the bottom. The importance of this level is further confirmed by the price action itself. Silver has been in a moderately strong uptrend, as suggested by the linear regression on the candles. However, the uptrend was interrupted at this price, and from September 24 until now, silver has been struggling to overcome the supply and push the price higher. You may observe how volume grows around this level, in a so-called "zone", and decreases as the market moves towards the zone borders. It's both a supply and a demand zone as indicated further by how the price usually returned into the zone after going out from it. Between October 9 and October 14, the market absorbed significant sell forces. Absorption means that there were sellers, but the sum of the buying volumes (what I call buy force) negated the sell force's impact on the price. You can observe it on the chart where relatively tall sell volume deltas belong to candles of the opposite price action - Yellow volume delta candles to green price candles. Furthermore, if you observe it, you can also see that the buy force moved the price upwards against the sales. Additionally, for the first time since September 24, the demand outweighed the supply for a relatively extended duration. Overall, the chart signals that it's an important time for silver's price. The market is in a balanced state where demand matches supply. However, if you look at the trend within this balanced state, you find a moderately strong uptrend. Thus, despite the balance, the trend projects higher prices in the future. Regards, Ely
CAPITALCOM:SILVERLong
by Elysian_Mind
Bullish on Gold and SilverHey everyone, I'm back with another update on Silver and Gold 🤓 A month ago I showed you how Silver and Gold might react in June and their movement wasn't too far from my expectations. Both Gold and Silver followed their seasonality direction for June (a bearish move). Now as we passed a week of July, Silver and Gold price actions suggest that they are willing to follow their seasonality pattern in July as well; if so, we will see a nice rally higher towards the upside targets I highlighted on the chart. What will give us the confidence to stay bullish? The market remains positive on the September rate cut. For example, if the CPI number comes lower or equal to expectations this week, it can strengthen the market sentiment on a 0.25% rate cut in September. How about the price action? Well, it's a bit tricky here, but for Silver, I can say a daily candle close above $32 and for Gold above $2432, is a strong confirmation for them to hit higher prices. Watch out for corrections these days, as they can be surprising and might be fast and sharp. But don't worry until we call these down moves a "correction" 😊. As we are bullish for the long term we see corrections as a buying opportunity 😉 What's the target? In the coming months, maybe July and August (we cannot time the market), in case of getting the above-mentioned confirmations, Silver can hit $36.4 and Gold can see $2580 and higher. Additionally, a DXY daily close below 104 would be a cherry on top of the cake.
OANDA:XAGUSDLong
by SamanFx0
Silver Fails At Top of Range . . . Now what?Silver: Daily Fibs and Indicators: Silver has a bull fib objective that takes it to 28.86, a massive move. It held it's 61.8% line in October 23 and was on it's way until December 23 when it stopped at the high of it's daily range. We traded down early in the year, only to test that high again htis past week. And, we are selling off of it again. We can't trust gold to go higher if Silver doesn't make a new high here. Silver lost it's embedded reading of the past 4 days. Big test for silver is 24.21, the BB midpoint, and the bull fibs from lows. that 23.55 level was resistance and the fact that it's the 61.8% line and support could be very key to support here. IMO, that would be a good place be a buyer for silver.
COMEX:SI1!
by CeresTrader
Silver 2 Year Wedge Breakout Looming?Silver is at a critical point in it's chart. With gold breaking to new highs, Silver has underperformed but has rallied alongside the yellow metal. Now we are at a critical stage that can see silver breakout of its flag and continue it's bull trend. The indicator that I love to look for longer-duration breakouts is the slow stochastics, specifically, when it becomes embedded or stuck on one side or the other side at the extremes. The last embedded nature for Silver on the daily chart occurred a year ago, late March 2023, that saw price on silver rise from 19.90 to 26.50. For three weeks, slow stochastic was embedded. We are at that point again with this rally. We are also at resistance from the wedge pattern. While I do think we can trade down in the early part of this week, I'm looking for support and a rally to kick us back into the overbought range and embed or "lock-in" price action. Gold has already embedded. I'm looking for silver to do the same and get us through the topside for a breakout.
COMEX:SI1!Long
by CeresTrader
SILVER 4H : Still bullish SILVER New forecast The silver price tested the 22.77 level and maintains its stability above it till now , noting that the price attacked that level many times and couldn't stabilized under it , waiting to stimulate the price to resume the upward wave that aims to test the 23.35 level initially, remembering that breaching this level will extend the upward wave to reach 23.49 but first its possible to retest to 22.98 and then will rise up . Moving average 50 still continues to support the suggested bullish wave, which will remain in place provided it remains above the 22.77 level, stabilized below the 22.77 will postponed the bullish attempts and put the price under sell pressure to visit the previous main support zone which is 22.50 level . The expect range trading for today it will be between resistance line 23.35 and support line 22.79 until stabilized . Additionally ,Today News will affect the market . support line : 22.77 , 22.50 resistance line : 23.35 , 23.50 Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
OANDA:XAGUSDLong
by Arazmajeed
Silver (XAGUSD) is at support, will it break or hold?Silver price resumed its positive trading to succeed achieving our first waited target at 26.07, facing solid resistance there, to show some expected slight bearish bias, waiting to get positive momentum at 25.87 support that assists to push the price to resume the positive trades and breach the mentioned level to open the way to head towards 26.80 as a next main station, followed by 27.70 The MA50 continues to provide the positive support to the price, to continue suggesting the bullish trend for the upcoming period, noting that breaking 25.87 will put the price under negative pressure to head towards testing 24.50 and 23.90 areas before any new attempt to rise
OANDA:XAGUSD
by AdilHussain731333
1
silver It will rise again soon After the adjustment, it will rise again Silver exceeds 24.62 in front. It is trapped in the adjustment stage. This is just to go further. You can further develop in the short term, so many head views will not change. It is recommended to buy 24.62, risk control 24.46 and target 25.10 ~ 25.30 to 25.50. The chart is 4H picture The bullishness is based on the following reasons: 1. Yesterday, silver showed signs of blocking. In the short term, this is just a correction. 2. According to the update of the wave trading system, the rise of 3 waves 1 has not yet ended, and it has entered the rise of Sub -Wave 5. 3. The pressure within a day is 25.30-25.50, 24.63-24.46 support Question little assistant What should I do if I feel stressed when doing transactions? In my trading career, I have encountered a lot of frustration and pressure. However, I realized that the mentality determines everything. So when I encounter losses, I will spend time to analyze the problem of trading strategies. At the same time, I will also find some ways to regulate emotions, such as chatting with friends, reading, exercise, etc., and do something to relax myself. When my mentality is relatively low, I will also suggest myself, tell myself to relax, don't be too anxious, to correct the irritable side of my personality. With a subtle way, my mentality was slowly improved under my long -term deliberate adjustment. Even if it is a period of decay, it will not be as uncomfortable as dying. It is just a small stimulus like a current. It feels a bit uncomfortable, but you can still adhere to your own trading strategy. TVC:SILVER MCX:SILVER1! COMEX:SI1!
TVC:SILVERLong
by CheetahAttack