Xagusdanalysis
Silver- my 25 target is in focusAs I said yesterday, I expect 23.50 support to hold and bulls can target 25 for their long trades.
Silver was very well bid yesterday all through the day and every dip was bought.
Now Silver is trading 1% above 24 figure and I expect a new challenge of 25 soon. A break above 24.30 should accelerate gains towards this target
Silver- Bullish also on short term (H1 outlook)A few minutes ago I made an analysis and explained why I'm bullish Silver in the long term.
Looking at H1 chart we can see that XagUsd is also bullish in the short term...
After the drop from 2 weeks ago and the low from Monday, Silver recovered quickly and price and up just under 24.50 zone important resistance.
In this H1 chart, we can clearly see that price is pressing this resistance and it formed an ascending triangle.
A break to the upside should accelerate gains towards 26 resistance.
Interim resistance are 25 and 25.50 and 23.50 is strong support now
Dips towards this support should be bought and also buying the break can be a good strategy
Silver- To resume its aggressive uptrend?As always, when things are not so clear with Gold, I look at Silver, is more technical and often gives me "clues"
As I said in a previous analysis, unlike Gold, Silver didn't made a new local low this week and stopped in strong 22 support.
This week was finished with a bullish engulfing from this support and adding this fact to the bull trend that we are already in, I expect a continuation to the upside.
For a clear confirmation, XagUsd needs to conquer 24.50 resistance and I expect acceleration to the next important resistance at 26.
As long as the price is above 22 buy dips is my strategy
Silver could dropIn yesterday's comment I said that 24.40-24.50 is the line in the sand for Silver and as we can see from the chart, XagUsd stopped its ascent just under this level.
Similar to Gold we can have a correction also here and a drop under 24 should clarify things.
23.50 and 23.00 could be good targets for bears with 1:3 R:R in the case you target the later.
On the other hand, a break above 24.50 would call for a 25 zone test (trend line)
Silver- 24.40- 24.50 zone is the line in the sandSince August top at 30, Silver dropped 8usd (if we consider the low) which is approx 25%.
The drop is clearly corrective in nature and, unlike Gold, Silver didn't make a new low.
Now XagUsd is trading just under an important confluence resistance zone and a break and daily close above would signal the end of this correction
On the short term 23.50-23.60 zone is support now and dips towards this zone should be bought with a target around 24.40 resistance
Silver looks very differentThe price of Silver also dropped at the beginning of the week, but the chart looks very different than Gold's.
First of all, we don't have a new medium-term low for Silver with the price stopping its descent just under 23. Second, from the last low, we have higher hights on our chart and the price looks very well supported by bulls.
A break of this short term consolidation can put the price again above 24 and also could signal that the correction for Silver is done and the precious metal could resume its uptrend.
I'm bullish Silver, more than Gold:)
Playing with a MAJOR area right nowThis area was last months support area where buyers was strong at. This area says alot. If we have a bounce of buyers off this area then we can see a huge swing to the upside. If the sellers continue and dominate this area then Im BEARISH next month because buyers could not lift there weight at a area from last month. If i continue to see sellers then im not convinced it will go higher. THIS is a major area. Watch it..
Silver / XAGUSD Analysis For 19 Nov 2020Hi Assalam-o-Alaikum , Dear GooD Evening Hope you are well and enjoing your trading , i'm here with my new analysis of SILVER
Silver / XAGUSD Analysis For 19 Nov 2020
I hope my analysis will help you in your trading best of luck
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