XAGUSD, H4 | Bearish Reversal off key resistancePrice is approaching a strong resistance level at 23.21 which is a pullback resistance, 50% Fibonacci retracement and a 100% Fibonacci projection.
On top of that, we have a long term descending resistance line and the bearish ichimoku cloud contributing to the bearish momentum.
A reversal from here could see prices drop all the way down to 22.22 which is a recent swing low support level.
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XAG-USD
XAGUSD, H4 | Drop to 22.16?Price has broken a key overlap support level suggesting that price might make a bearish breakout towards the 22.16 level. The 221.16 level is a 61.8% major Fibonacci retracement and a 127.2% Fibonacci extension. If price were to drop to this level, watch out for a potential bounce from 22.16 for it to rise back up to 22.69.
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xagusd (silver) could be a good re-test for a buy? Hey everyone I believe silver could be a good trade a nice little 1h channel moving up, 4h trend up is also a good positive sign, recent bullish engulfing candlestick on the 4h confirms bullish bias, I believe a re-test of the top is likely, we also have 1h 200 moving average covering our stoploss, which even if it pullsback is likely to react and find bullish pressure once again. 😊 🚀
XAGUSD Daily Potential Forecast | 11th April 2023Technical Confluences
1. Silver is currently near last year's high
2. Near-term resistance at 25.31550
3. Near-term Support at 24.29100
4. High-up resistance at 28.13740
Idea
We are looking for price to continue heading towards the near-term resistance at 25.31550.
There might be some struggle to break through the resistance so we are expecting a possible pullback down towards the near-term Support at 24.29100 before continuing it's bullish momentum upwards.
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Silver shows bearish signs with head and shoulders patternThe silver is forming a clear Head and Shoulders pattern with a visible divergence on momentum indicators. Additionally, it has broken the ascending weekly trendline. These are all signs that the price is likely to fall to 22.150, after which it may rebound to 22.68 and retest the breached neckline. The retest point could present a good opportunity to enter a short position, with a potential profit of at least 6200 points.
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Silver: The Breakout of Head and Shoulders PatternXAGUSD has completed the formation of a head and shoulders pattern with divergence on momentum indicators, and has made an initial break of the neckline. I prefer to wait for confirmation of the breakout before entering a sell position targeting 21.19. However, with the current global crisis in American and European banks, conditions may change at any moment, so it is advisable to enter and exit with caution and strict risk management.
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XAGUSD potential for bearish drop towards overlap supportLooking at the H4 chart, my overall bias for XAGUSD is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market.
Looking for a pullback sell entry at 23.01995, where the overlap resistance and 38.2% Fibonacci line is. Stop loss will be at 24.63700, where the previous swing high is. Take profit will be at 20.80500, where the overlap support is.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
XAGUSD 16-20 Jan Next MovePair : XAGUSD ( Silver / U.S Dollar )
Description :
Rising Wedge in Long Time Frame and Rejecting from the Upper Trend Line with Strong Bearish Price Action as Impulse
Making Correction in the Form Bullish Channel and Rejecting from the Upper Trend Line
Fibonacci Level - 78.60%
S- R Level
Resistance Level
Divergence
Completed " ABC " Corrective Wave
XAGUSD Potential For Bullish ContinuationLooking at the H4 chart, my overall bias for XAGUSD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. With price tapping into my buy entry at 22.56150, where the 38.2% Fibonacci line is. Stop loss will be placed at 22.35795, where the 23.6% Fibonacci line is. Take profit will be at 22.91150, where the 23.6% and 61.8% Fibonacci lines are.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
XAGUSD (Silver) Buy possibility Silver, which often follows the direction in gold, rallied sharply into December, with the benchmark futures contract on Comex hitting a seven-month high of $22.94 while spot silver hit a similar milestone with $22.74. Silver is up 5% month-to-date after rising almost 14% in November.
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Investing.com
💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
20.621 is a major support, while this level is not broken, the Midterm wave will be uptrend.
We will close our open trades, if the Midterm level 20.621 is broken.
Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 20.860 on 11/28/2022, so more gains to resistance(s) 24.129, 25.986, 26.940 and more heights is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 71.
Take Profits:
19.939
20.621
21.200
22.417
24.129
25.986
26.940
28.304
29.850
37.500
44.200
49.800
60.000
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💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 17.520, resumption of uptrend is expected.
We make sure when the resistance at 22.417 breaks.
If the support at 17.520 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A peak is formed in daily chart at 22.245 on 11/15/2022, so more losses to support(s) 20.621, 19.939, 19.525 and minimum to Major Support (17.520) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 56.
Take Profits:
19.939
20.621
21.200
22.417
24.129
25.986
26.940
28.304
29.850
37.500
44.200
49.800
60.000
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Silver is under selling pressure.Silver on the 4-hour timeframe is still facing a very difficult resistance, as it did not close above 22 until it tested this resistance three times and it did not succeed, so we expect silver to fall from these prices towards 20.42 areas, and then to 19.74 areas.
.
.
.
The four golden rules of trading
1 Don't be greedy
2 Always use stop loss
3 Never add other positions to the losing positions
4 Use a suitable lot for your account
💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 17.520, beginning of uptrend is expected.
We make sure when the resistance at 21.200 breaks.
If the support at 17.520 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 18.080 on 10/14/2022, so more gains maximum to Major Resistance (21.200) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 64.
Take Profits:
19.939
20.621
21.200
22.417
24.129
25.986
26.940
28.304
29.850
37.500
44.200
49.800
60.000
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💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 17.520, beginning of uptrend is expected.
We make sure when the resistance at 21.200 breaks.
If the support at 17.520 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 18.080 on 10/14/2022, so more gains maximum to Major Resistance (21.200) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 64.
Take Profits:
19.939
20.621
21.200
22.417
24.129
25.986
26.940
28.304
29.850
37.500
44.200
49.800
60.000
❤️ If you find this helpful and want more FREE forecasts in TradingView
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Trade well, ❤️
ForecastCity English Support Team ❤️
xagusdSilver (XAG/USD) has been trading in a downward sloping channel since August 2020. On July 5th, 2022, the precious metal broke below the bottom trendline of the channel. Silver attempted to rebound a few times back into the channel, however it could only make it as far as the 38.2% Fibonacci retracement level from the March 8th highs to the September 1st lows, near 21.24. Since reaching that near-term high on October 4th, Silver has moved lower on 7 of the last 8 trading days. The 1 day it did close higher, it only closed higher by 0.01! If Silver continues to move lower, the firs t support is at the September 1st lows of 17.54. Below there, horizontal support crosses from the June 15th , 2020 lows at 16.95, then the April 2020 highs at 15.85. However, if Silver can manage to move higher, the first resistance is at the lows of October 5th at 20.02, then the highs of October 4th at 21.24. Above there, resistance crosses at the 200 Day Moving Average at 21.83.