Going DOWN?Are the words a whisper to my girlfriend after a long hard day at work... NO f@ck off are the words she whispers back.
As you can see i have a few very strong levels drawn on my chart, the main level been 22 as previously it was used as support which finally broke yesterday, today price has come back up to re test this broken level as resistance and if this resistance level holds then i can see bears pushing price down to 19! Now i am very bullish on silver long term because of all its industrial uses and the lack of supply in circulation, this only means one thing 2022 will be a very big year for silver bulls, but until then i can see price being manipulated by the big banks and been pushed down short term.
On the other hand if we fail to hold below 22 then the opposite could happen and we could push up to my next level of resistance at 22.89. In trading you have to look at both outcomes and let price tell you what it wants to do, if you rush in you will always lose.
So i am short term SHORT but long term LONG.
If you have any questions please just ask.
Cheers.
XAG-USD
SILVER IN BIG TROUBLE!If Silver holds below 22 on at weekly close then i will be looking at bears pushing price down to 19! 22 is such a key level as you can see on my chart this level has been used many times as key support and resistance, and taking into note that this is the weekly timeframe this makes this level VERY strong.
On the daily if you take a look yourself i am looking for price to push up to 22 and retest this broken support as resistance before pushing down, so this is where i will be looking at taking sell trades from.
Silver is heavily manipulated by the big banks as they want to keep the price down and make the USD look strong when the USD is far from strong! Silver is well below value as it is used in everyday items and supply is running out, so i can see Silver making a massive upwards move if we do hit that 19 target.
I am very bullish long term on Silver as you will know if you watch my YouTube channel, but this doesn't mean we cant see short term bearish moves. 2022 will be a massive year for Silver to make some big bullish moves.
If you would like any help then please message me.
Thanks.
XAG/USD EVERY SUNDAY LIVE ZOOM ANALYSISThe gold & silver market is pushing significantly higher, following a significant miss in the U.S. labor market with fewer jobs created in August.
Friday, the U.S. Labor Department said that 235,000 jobs were created last month. The data was weaker than expected as consensus forecasts called for jobs gains of 720,000.
While the headline data saw a significant miss, the Labor Department included substantial revisions to its June and July numbers. June's employment numbers were revised up by 24,000 to 962,000 from the previous estimate of 938,000. Meanwhile, July's data was revised up to 1.053 million jobs compared to the initial estimate of 943,000.
However, some economists note that the strong revisions are not enough to take the full sting out of the disappointing headline numbers.
Meanwhile, the U.S. unemployment rate dropped to 5.2%, down from July's reading of 5.4%. The unemployment rate fell in line with expectations.
The gold market has broken through critical near-term support levels in initial reaction to the weaker-than-expected employment data. December gold futures last traded at $1,827.10, up nearly 1% on the day.
Not only was job growth weaker last month, but positive for gold, wage inflation continues to creep higher. The report said that wages rose 0.6% in August, up from July's 0.4% increase. Economists were expecting to see a 0.3% increase.
A lot of focus had been placed on the August employment numbers. Many Federal Reserve officials noted that a strong number could prompt them to launch their plans to reduce their monthly bond purchases. However, some economists say the disappointing data could force the central bank to delay those plans.
"This disappointing report will make it a closer call than we expected for a September tapering announcement from the Fed," said Katherine Judge, senior economist at CIBC.
Paul Ashworth, chief U.S. economist at Capital Economics, said that the latest employment numbers puts the Federal Reserve in a very difficult position. He noted that the economic data shows the COVID-19 pandemic and the spreading Delta Variant is impacting the current recovery.
“Even allowing for the fact that first estimates for August often disappoint on the downside, the extent of the slowdown in jobs growth all-but rules out any tapering announcement at this month's FOMC meeting and, if this weakness persists, then it could be pushed into early next year.
XAG/USD EVERY SUNDAY LIVE ZOOM ANALYSIS UK 18:00
Xauusd Gold What to look for nextXagusd Gold prices are aggressively moved to the upside first look for to price to come close to Trendline and then look for any buying possibilities But remember that buy-side is very limited
I will more likely to sell gold rather than buy it there is no trade for me on gold.
Cheers
💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support of 23.75, a resumption of an uptrend is expected.
We make sure when the resistance at 28.75 breaks.
If the support at 23.75 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI resistance #1 at 48 is not broken, the probability of price increase would be too low.
A trough is formed in the daily chart at 24.50 on 07/27/2021, so more gains to resistance(s) 25.75, 26.60, 28.30, and maximum to Major Resistance (28.75) is expected.
Price is below WEMA21; if the price rises more, this line can act as dynamic resistance against more gains.
The relative strength index ( RSI ) is 46.
Take Profits:
TP1= 25.75
TP2= 26.60
TP3= 28.30
TP4= 29.85
TP5= 33.45
TP6= 37.50
TP7= 44.20
TP8= 49.80
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💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support of 23.75, a resumption of an uptrend is expected.
We make sure when the resistance at 28.75 breaks.
If the support at 23.75 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
The symmetrical triangle is taking shape, and as a continuation pattern suggests, we will soon see another leg higher if the price breaks and closes above the downtrend line of the triangle.
While the RSI resistance #1 at 48 is not broken, the probability of price increase would be too low.
A peak is formed in the daily chart at 26.75 on 07/06/2021, so more losses to support(s) 24.50 and minimum to Major Support (23.75) are expected.
Price is below WEMA21; if the price rises more, this line can act as dynamic resistance against more gains.
The relative strength index ( RSI ) is 39.
Take Profits:
TP1= 25.75
TP2= 26.60
TP3= 28.30
TP4= 29.85
TP5= 33.45
TP6= 37.50
TP7= 44.20
TP8= 49.80
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💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support of 23.75, a resumption of an uptrend is expected.
We make sure when the resistance at 28.75 breaks.
If the support at 23.75 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
The symmetrical triangle is taking shape, and as a continuation pattern suggests, we will soon see another leg higher if the price breaks and closes above the downtrend line of the triangle.
While the RSI resistance #1 at 48 is not broken, the probability of price increase would be too low.
A peak is formed in the daily chart at 26.75 on 07/06/2021, so more losses to support(s) 24.50 and minimum to Major Support (23.75) are expected.
Price is below WEMA21; if the price rises more, this line can act as dynamic resistance against more gains.
The relative strength index (RSI) is 39.
Take Profits:
TP1= 25.75
TP2= 26.60
TP3= 28.30
TP4= 29.85
TP5= 33.45
TP6= 37.50
TP7= 44.20
TP8= 49.80
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💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support of 23.75, a resumption of an uptrend is expected.
We make sure when the resistance at 28.75 breaks.
If the support at 23.75 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
The symmetrical triangle is taking shape, and as a continuation pattern suggests, we will soon see another leg higher if the price breaks and closes above the downtrend line of the triangle.
A trough is formed in the daily chart at 25.50 on 06/29/2021, so more gains to resistance(s) 26.60, 28.30, and maximum to Major Resistance (28.75) is expected.
Price is below WEMA21; if the price rises more, this line can act as dynamic resistance against more gains.
The relative strength index ( RSI ) is 47.
Take Profits:
TP1= 25.75
TP2= 26.60
TP3= 28.30
TP4= 29.85
TP5= 33.45
TP6= 37.50
TP7= 44.20
TP8= 49.80
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💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support of 23.75, a resumption of an uptrend is expected.
We make sure when the resistance at 28.75 breaks.
If the support at 23.75 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
The symmetrical triangle is taking shape, as a continuation pattern suggests, we will soon see another leg higher if the price breaks and closes above the downtrend line of the triangle.
A trough is formed in the daily chart at 25.50 on 06/29/2021, so more gains to resistance(s) 26.60, 28.30, and maximum to Major Resistance (28.75) is expected.
Price is below WEMA21; if the price rises more, this line can act as dynamic resistance against more gains.
The relative strength index (RSI) is 47.
Take Profits:
TP1= 25.75
TP2= 26.60
TP3= 28.30
TP4= 29.85
TP5= 33.45
TP6= 37.50
TP7= 44.20
TP8= 49.80
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💡SILVER (XAGUSD) - Weekly Technical Analysis Update
Midterm forecast:
While the price is above the support 23.75, a resumption of the uptrend is expected.
We make sure when the resistance at 28.75 breaks.
If the support at 23.75 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
The symmetrical triangle is taking shape. As a continuation pattern suggests, we will soon see another leg higher if the price breaks and closes above the downtrend line of the triangle.
The RSI support #1 at 48 is broken, so the probability of the resumption of the uptrend is decreased.
A peak is formed in the daily chart at 28.55 on 06/ 01 /2021, so more losses to support(s) 25.75, 24.50, and minimum to Major Support (23.75) is expected.
Price is below WEMA21. If the price rises more, this line can act as dynamic resistance against more gains.
The relative strength index ( RSI ) is 31.
Take Profits:
TP1= 25.75
TP2= 26.60
TP3= 28.30
TP4= 29.85
TP5= 33.45
TP6= 37.50
TP7= 44.20
TP8= 49.80
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💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 23.75, a resumption of the uptrend is expected.
We make sure when the resistance at 28.75 breaks.
If the support at 23.75 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
The symmetrical triangle is taking shape. As a continuation pattern suggests, we will soon see another leg higher if the price breaks and closes above the downtrend line of the triangle.
The RSI support #1 at 48 is broken, so the probability of the resumption of the uptrend is decreased.
A peak is formed in the daily chart at 28.55 on 06/01/2021, so more losses to support(s) 25.75, 24.50, and minimum to Major Support (23.75) is expected.
Price is below WEMA21. If the price rises more, this line can act as dynamic resistance against more gains.
The relative strength index (RSI) is 31.
Take Profits:
TP1= 25.75
TP2= 26.60
TP3= 28.30
TP4= 29.85
TP5= 33.45
TP6= 37.50
TP7= 44.20
TP8= 49.80
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💡SILVER (XAGUSD) - Weekly Technical Analysis Update
Midterm forecast:
25.75 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 25.75 is broken.
Technical analysis:
A trough is formed in daily chart at 23.75 on 03/31/2021, so more gains to resistance(s) 28.30, 29.85, 33.45 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 64.
Take Profits:
TP1 @ 25.75
TP2 @ 26.60
TP3 @ 28.30
TP4 @ 29.85
TP5 @ 33.45
TP6 @ 37.50
TP7 @ 44.20
TP8 @ 49.80
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. . . . . Please show your support back,
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💡SILVER (XAGUSD) - Weekly Technical Analysis Update
Midterm forecast:
25.75 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 25.75 is broken.
Technical analysis:
A trough is formed in daily chart at 23.75 on 03/31/2021, so more gains to resistance(s) 28.30, 29.85, 33.45 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 64.
Take Profits:
TP1 @ 25.75
TP2 @ 26.60
TP3 @ 28.30
TP4 @ 29.85
TP5 @ 33.45
TP6 @ 37.50
TP7 @ 44.20
TP8 @ 49.80
❤️ If you find this helpful and want more FREE forecasts in TradingView
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To Infinity And Beyond Buzz Lightyear is in control of this rocket ship.
For me a key level of interest and a sign that price finally broke out of the downtrend came in my yellow box, as we can see price came back up to test the trendline for the 4th time, it broke on this 4th touch and then came back down to test this same trendline as support before bouncing in a bullish fashion and hitting my 1st target 26.0 which i could see been used as slight resistance.
On Friday price did use this as resistance, tried to push through but bulls were not strong enough causing the bears to push price back down below this level, Today we have pushed back above this level and i can see price staying above it and pushing even higher. 26.5 will be my next level and then 28.0
If you have any questions then please just ask, i will be happy to have a chat and see how i can help you.
Peace out.
SILVER looking up 🦐SILVER after the break of the descending channel, bounce over the weekly ascending trendline and created an impulse until the 26 level.
The price is now testing the resistance area and according to Plancton's strategy if the price will break above we can set a nice long order.
–––––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Leave a comment that is helpful or encouraging. Let's master the markets together