Silverusd
Last leg down for silverLast 5th corrective wave of C down to green box, will end total correction of big wave 4. Wave 5 will start there till new highs at least 20.44
Will the Silver Rally Continue?Silver tends to move in a very specific way. It moves very fast for a few days, only to act very calm in the next several days. Silver already lost its downward momentum as its been calm for a few days now. This characteristic pattern is what we saw also when Silver completed a broad top (just as it did recently) earlier this year.
What does it all come to?
For the 24 hours, Silver rose 1.22% against the USD and closed at USD 16.97 per ounce, tracking gain in gold prices. We prefer Long positions around 17.00 with targets at 17.1500 (and follow to 17.60 if extends) and Stop Loss: below $16.89.
The price have bounced just a bit from the support trend line on 1-hour chart, which of course is a bullish sign. Additional, the white metal is showing convergence with its H1 20-day moving average and is trading above its 50 Hr SMA.
The Silver seasonality also suggests that the short-term decline in the white metal might be over or close to being over as local bottoms tend to form close to the middle of November.
The daily RSI is bullish and calls for further upside. More interestingly, on the daily chart the Stochastic indicator just moved to levels that are low enough to indicate a short-term buying opportunity on their own. This simple technique worked very well in the previous 12 months. But on the H1 chart both indicators are in overbought zone, so we can see a little bit downside pressure to the support trend line around $16.96. We like the idea of buying dips, and it appears that we have just saved the overall uptrend, at least so far.
In conclusion, with all that in mind - Are you agree with our long positioning?
ANALYSIS ON XAGUSD (Silverdusd)ANALYSIS ON XAGUSD (Silverdusd)
Welcome to my analysis
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30Min CHart
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Interesting Point of interest In the XAGUSD pair.
- Price below 100/200 day EMA.
- Buy reversal.
- Expecting more Upward momentum.
- Watch 17.07500 - 17.43000 for take profit.
- MACD showing bullish divergence
Stay Tuned
SILVER (XAG/USD) | 16.500 - Keep An Eye On It!Hi,
Green area consists of:
1) Fibonacci Golden Ratio 62%
2) Fibonacci Extension 127%
3) Middle number 16.500
4) Daily & Weekly EMA200 are around the marked area.
5) 2X AB=CD!
6) Channel projection
7) Let the bullish price action around the green area guides you into the trade!
16.500 is the key level, wait for a smaller timeframe candlestick patterns after the touch. As said let the price action guides you into the trade ;)
If it was helpful then take a second and support my effort by hitting the "LIKE" button, it is my only fee from You!
Regards,
Vaido
Silver monthly update / buy setupHello traders!
Monthly supply range(blueish) held perfectly well and now we are due for a retest lower.
*16.60$ - was never re-tested after a breakout and now should be a point of interest for investors.
We should see it being re-tested very soon. MACD suggest that there's plenty of momentum left & $16.40 in November - very likely.
Next target is $23 .
*Buy zone $16.40 - $16.60.
*Take profit zone $23.
This is not a financial advise. Have a great day!
$21 / oz silver by mid year 2020This is a real possibility now that the downtrend for the last month or so is about to break. We are also seeing great weakness in the gold/silver ratio which means we should see silver outperform gold in the coming months. Therefore $21/oz is possible should the gold/silver ratio drop to around 70-77 depending on the price of gold. Watch the breakout.
XAG/USD | SILVER Short/SellWe see a typical downtrend-move formed by lower highs and lower lows. For confirmation we have 2 trendlines + fibonacci levels (pervious at 61.8 reversed and now at 38.2) + Doji forming at the current level which indicates weakness by the short-term uptrend so therefore we should see weakness => to the downside.
What do you think? Comments are welcome! :)
SILVERFirst a perfect reaction of the .382 swing high to swing low and now a rejection of the 618. Levels to watch are a possible triangle trendline but buying that trendline would be to risky. Better buy would breakout of the downtrend triangle with a retest. If we get back to the 382 at 17.4 we could either have a V-shape reaction or we could smash through, that would mean short the retest of the 382 with a target at 16.1 the 618 fib.
Silver big move after correction up to 22$Silver in comparison with gold still has it's final word, even if gold will go up, it will not compare with silvers future gains. The structure of silver's pattern since 2011 permits for such a breakout. This will probably be last chance to make significant profit from gold and silver before final consolidation. Also the wave B in depicted ABC structure might last longer, but anyways it does not change the pattern.
SILVER on my custom indicator This is a screenshot of silver using my custom indicator. As you see the indicator paints bull (buy) and sell (bear) signals. Catching the majority of the uptrend and the downtrend to maximize profits.
Silver on supportThe price of Silver (in USD) has left the ascending channel, tested the next fib retracements (one coming from dec 2015 in blue, the other recent from may 2019 in violet). This level has been and is still a strong resistance and we´ll see if the bulls will have enough strength to break through.
After Silver has re-entered the parallel channel and touched the lower limit it turned and is now on the lower side of the positive trend channel.
RSI also has turned and could signify new gains. MACD is in bullish terrain but the trend is negative. One has to take in consideration, that MACD always has a significant delay. I take this indicator only for confirmation.
With Gold (orange line) also regaining force I can imagine that Silver will recover on this level. So the bullish trend isn´t over.
This is no trading advice!!
Silver Fundamental Analysis – September 16th 2019Here are the key factors to keep in mind today for Silver trades:
New Zealand Performance of Services Index: The New Zealand Performance of Services Index for August was reported at 54.6. Forex traders can compare this to the New Zealand Performance of Services Index for July which was reported at 54.8.
UK Rightmove House Prices: UK Rightmove House Prices for September decreased by 0.2% monthly and increased by 0.2% annualized. Forex traders can compare this to UK Rightmove House Prices for August which decreased by 1.0% monthly and which increased by 1.2% annualized.
Chinese Retail Sales: Chinese Retail Sales for August increased by 7.5% annualized. Economists predicted an increase of 7.9% annualized. Forex traders can compare this to Chinese Retail Sales for July which increased by 7.6% annualized.
Chinese Industrial Production: Chinese Industrial Production for August increased by 4.4% annualized. Economists predicted an increase of 5.2% annualized. Forex traders can compare this to Chinese Industrial Production for July which increased by 4.8% annualized.
Chinese Fixed Assets ex Rural: Chinese Fixed Assets ex Rural for August increased by 5.5% annualized. Economists predicted an increase of 5.7% annualized. Forex traders can compare this to Chinese Fixed Assets ex Rural for July which increased by 5.7% annualized.
Chinese Property Investment: Chinese Property Investment for August increased by 10.5% annualized. Forex traders can compare this to Chinese Property Investment for July which increased by 10.6% annualized.
Chinese Surveyed Jobless Rate: The Chinese Surveyed Jobless Rate for August was reported at 5.2%. Forex traders can compare this to the Chinese Surveyed Jobless Rate for July which was reported at 5.3%.
Final Italian CPI: The Final Italian CPI for August increased by 0.4% monthly and 0.4% annualized. Economists predicted an increase of 0.5% and of 0.5%. Forex traders can compare this to the Italian CPI for July which increased by 0.5% monthly and by 0.5% annualized. The Final Italian Harmonized Italian CPI for August was reported flat at 0.0% monthly and increased by 0.5% annualized. Economists predicted a decrease of 1.7% and an increase of 0.5%. Forex traders can compare this to the Italian Harmonized Italian CPI for July which decreased by 1.8% monthly and which increased by 0.5% annualized.
US Empire Manufacturing Index: The US Empire Manufacturing Index for September is predicted at 4.0. Forex traders can compare this to the US Empire Manufacturing Index for August which was reported at 4.8.
Should price action for Silver remain inside the or breakout above the 17.400 to 18.150 zone the following trade set-up is recommended:
Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 17.800
Take Profit Zone: 19.600 – 20.000
Stop Loss Level: 17.200
Should price action for Silver breakdown below 17.400 the following trade set-up is recommended:
Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 17.100
Take Profit Zone: 15.900 – 16.500
Stop Loss Level: 17.400
XAG/USD SHORTING Opportunity?? Price below 21 EMA is considered to be the beginning of a downtrend , also as per the charts price has been rejected after hitting the Resistance
Note:- Do analyze the chart before opening a short position!!!
XAGUSD: Short term buy opportunity. Tight stop.XAGUSD has made contact this week with its 1D Higher Low trend line (bold) where it has so far rebounded, as it made a Higher Low (1D Highs/Lows = 0.0000). With 1D holding marginally onto bullish levels (RSI = 56.268, MACD = 0.403, ADX = 44.272) it is likely to sustain this rise all the way to the 19.650 Resistance, as long as 17.780 holds. On a different occasion we may get a deeper correction on the 1W scale where the RSI is still overbought at 75.529.
You may get an idea of this potential 1W correction here:
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Silver Elliott Wave IdeaAn update to a chart from 12 months ago on Silver >
It could be that a long term correction completed at 13.891$ and now in the early stages of an impulsive move.
Could be in wave 4 now but if price drops below 16.213$ then it would invalidate this theory and could potentially just be another corrective move, meaning a move towards or below recent lows.
SILVER going down?Another massive bear channel on a longer term. We are not in a bull market yet. still looking for another leg down. Too much hype and positive sentiment on Silver and Gold.
Is SILVER run over? It appears that we are still in a massive bear channel and this was a bear market rally. Both TVC:GOLD and TVC:SILVER appear to be overbought. Silver is showing a massive weekly shooting star. Might see another leg up (within the channel)but then a decline to find another bottom. Looks like it got all the FOMOs out there. Unless we break out of this bear channel staying bearish.
