Silver Prices Near Monthly Low Amid Fed's Hawkish SignalsSilver prices (XAG/USD) are experiencing a significant decline, approaching the $22.00 mark, driven by signals from Federal Reserve (Fed) Chair Jerome Powell and colleagues indicating a willingness to implement additional interest rate hikes in pursuit of a more restrictive monetary policy stance.
Jerome Powell's recent statements, affirming the Fed's readiness to raise interest rates further to maintain price stability, contrast with the uncertainties expressed by Fed policymakers Mary Daly and Thomas Barkin, who remain unsure about the necessity of interest rate hikes. Concurrently, apprehensions preceding the release of US inflation data for October have contributed to keeping silver prices subdued. As per expectations, the Core Consumer Price Index (CPI) for the month and year is anticipated to exhibit steady growth at 0.3% and 4.1%, respectively.
The US Dollar has strengthened in anticipation of inflation data, with a potential drop in the inflation rate to 2% heightening hawkish sentiments at the Fed. The US Dollar Index (DXY) is striving to surpass the immediate resistance level of 106.00. In European trading, S&P500 futures have recorded additional losses, reflecting a risk-averse market sentiment. The yield on the US 10-year Treasury bond has risen to approximately 4.65%.
Technical Analysis of Silver
Silver prices continue their downward trajectory post a test of the breakdown of consolidation within the $22.37-23.70 range on the four-hour chart. Short-term demand for the precious metal remains muted as it has dipped below the 200-period Exponential Moving Average (EMA), hovering around $22.70.
The Relative Strength Index (RSI) (14) has entered the oversold range of 20.00-40.00, signaling the activation of downward momentum.
Xagusdanalysis
#XAGUSD: 2nd Entry Possible, big trade coming! Dear Traders,
At the beginning of the week and the first hour of trading of Monday, gold and silver price sky rocketed. The reason is many institutional traders took the price high to take their profit out as we approaches the year end. The second thing is the fear that FED will increase the interest rate that means dollar will collapse ultimately this fear led pre session market sentiment to go all in. Moving forward we expect price to fill the liquidity voided area and once filled. Price can continue the drop.
Thanks in advance and good luck.
XAGUSD - D1\H4XAGUSD
W1 - The price has reached level 161 in a three-wave structure, which may lead to a potential correction to the 100 level.
H4 - The price is fixed behind the trend line, you can wait for the formation of a three-wave structure to enter a sale with targets up to 22.97
What can you expect?
You can consider entry from the level of ~25.10 with further movement to the target of 23.80. Cancellation of the idea so as not to take increased risk on the idea levels beyond the end of the 2nd wave - 25.45 or 1st wave - 25.92.
Long
Targets 24.55 - 24.09 - 23.65 - 22.97
XAGUSD (SILVER)Dear Traders,
Hope you had a great weekend, now as we look into XAGUSD, last three daily candle closed completely bullish which indicates a further bullish price continuous. We also need to consider one important fact here that XAU AND XAG both metals are positively correlated. It is advisable to wait until price come to our area and then we can take entry with proper entry.
Have a great trading week ahead!
SILVER → Remains on track to conquer $25.00OANDA:XAGUSD enters a bullish consolidation phase and oscillates in a narrow trading band just above mid-$24.00s through the first half of the European session on Tuesday. The white metal, however, remains well within the striking distance of a near three-month high touched on Monday and seems poised to prolong its recent strong appreciating move witnessed over the past two weeks or so.
From a technical perspective, the recent breakout through the 200-day Simple Moving Average (SMA) and a subsequent strength beyond the $24.00 round figure was seen as a fresh trigger for bullish traders. Furthermore, oscillators on the daily chart are holding comfortably in the positive territory and are still far from being in the overbought zone, validating the near-term positive outlook for the XAG/USD.
Hence, any meaningful downside might still be seen as a buying opportunity near the aforementioned resistance breakpoint now turned support near the $24.00 mark. This should help limit the downside for the XAG/USD near the 200-day SMA, currently pegged near the $23.35-$23.30 region. That said, a convincing break below might prompt some technical selling and pave the way for some meaningful downside.
The XAG/USD, meanwhile, still seems poised to make a fresh attempt to conquer the $25.00 psychological mark. The next relevant hurdle is pegged near the $25.25 region, or the YTD peak touched in May, which if cleared decisively will reaffirm the bullish bias. The white metal might then accelerate the positive momentum towards reclaiming the $26.00 round figure for the first time since April 2022.
XAG/USD on the Rise, Sustaining Upward Momentum Silver prices saw a 0.91% increase on Thursday amid low trading volumes as the Asia-Pacific trading session commenced, holding steady around $23.82. There was little change in the early Friday session as markets in Japan and the United States resumed activities following a break.
The daily chart for silver illustrates the gray metal's trend as neutral to slightly bullish, remaining close to the weekly high, potentially paving the way for a test of the $24.00 mark. After overcoming a previous hurdle, the next resistance lies at the highest point on June 9, reaching $24.52 before XAG/USD advances to $25.00. Achieving this milestone would solidify the upward trend, marking the highest point year-to-date at $26.12.
Conversely, a decline below the November 23rd low of $23.60 may initiate a test of the 200-day moving average (DMA) at $23.32. If sellers push the price below that level, XAG/USD could shift towards a neutral downtrend, indicating the 20-DMA at $23.13, followed by the 50-DMA at $22.75. This potential downward movement signals a cautious market sentiment and warrants careful monitoring in the coming sessions.
XAG/USD Maintains Uptrend, Buyers Target $24.00Silver prices increased by 0.91% on Thursday, trading around $23.82 as the Asia-Pacific trading session commenced on Friday. The daily chart indicates a neutral to bullish trend, maintaining near weekly highs, setting the stage for a potential test of the $24.00 level. Once surpassed, the next resistance lies at the June 9th high of $24.52 before potentially reaching $25.00. Breaking through these levels would solidify the upward trend, marking the highest point year-to-date (YTD) at $26.12.
On the downside, if XAG/USD drops below the November 23rd low of $23.60, it may test the 200-day Moving Average (DMA) at $23.32. Further decline could lead to a neutral to bearish trend, with the 20-DMA at $23.13 and the 50-DMA at $22.75 as potential support levels.
SILVER → XAG/USD rally as buyers reclaim the 200-DMAOANDA:XAGUSD price climbs on Wednesday, following last Tuesday’s soft US inflation report, which sent US Treasury bond yields plummeting on expectations the US Federal Reserve is done hiking rates. Hence, the XAG/USD advances sharply, reaching key resistance levels like the 200-day moving average (DMA) at $23.26. If Silver bulls hold price above the latter, the uptrend would likely continue toward year’s end, as buyers target $24.00. The XAG/USD is trading at $23.40, up 1.47%.
From a daily standpoint, the grey metal is neutrally biased, though about to shift neutral-upwards if buyers reclaim the latest cycle high seen at $23.69, October 20 daily high. Upside risks remain above that level, with a seven-month-old resistance trendline at $23.80-90, before challenging $24.00 a troy ounce.
On the other hand, if XAG/USD couldn’t remain above the 200-DMA, that could exacerbate a pullback toward the 20-DMA at $22.89, before sliding to the 50-DMA at $22.64 before challenging the November 13 swing low of $21.88.
Silver’s rebound space is limited
After the short-term trend of silver fell and tested the low near 21.86, it gained support and quickly rebounded upward. The price of silver broke through the downward trend line pressure, but from the perspective of the moving average system, the objective trend has not entered an upward trend. The further rebound space of silver price is limited. It is expected that the rebound of silver price will continue to rebound around 22.60 during the day and will be blocked again.
Short at 22.60, stop loss at 22.80, target at 22.20.
XAGUSDPair : XAGUSD ( Silver / U.S Dollar )
Description :
Completed Right Shoulder of the Corrective Pattern " H&S " in Short Time Frame and Started Rejecting from the Daily Demand Zone after it Completed " 12345 " Impulsive Waves and " abc " Corrective Waves. Bearish Channel in Short Time Frame
Entry Precautions :
Wait for the Proper Trend Reversal Price Action
SILVER - Bearish Scenario 📉HI Traders !
On Friday 20 Oct, The Silver Price Reached a Resistance Level (23.77640 - 23.55650).
-The XAGUSD Failed To Create a New Higher High.
-The Price Formed a Triple TOP Pattern.
Currently, We have a Bearish Scenario:
If The Market Breaks The Neckline and Closes Below That,
We Will See a Huge Bearish Move 📉
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TARGET: 21.10000🎯
XAGUSD SilverPair : XAGUSD ( Silver / U.S Dollar )
Description :
Completed Impulse and Corrective Wave " wxyx ". Symmetrical Triangle as an Corrective Pattern in Short Time Frame. Head and Shoulder Pattern in Long Time Frame, It will complete its Right Shoulder at Daily Demand Zone
Entry Precautions :
Wait until it Breaks UTL / LTL
SILVER BUYING ON DIPSHELLO TRADERS!!
As i can see this chart of silver its is show a strong support zone and on long term chart it have to test the above weekly trend line which is my last TP i am going for a buy setup from the buying zone area with a very low risk and looking for higher rewards... this just an a trade idea kindly share Ur thoughts on silver chart and stay tuned with us for new updates
XAGUSDIs XAGUSD exhausting at highs?
As the price is been on high bull run but now it seems like price is lacking bullish momentum and bearish divergence near the long time resistance suggesting the sell pressure is about to start.
If the bears took control , the 1st target could be 21.5 followed by 20.5
What you guys think of it?
XAGUSD 23/10 MovePair : XAGUSD ( Silver / U.S Dollar )
Description :
Bullish Channel as an Corrective Pattern in Short Time Frame and it is Rejecting from the Upper Trend Line and S / R Level. If it Rejects from the Lower Trend Line then it will Reject from the Daily Descending Trend Line. Break of Structure / RSI - Divergence
Entry Precaution :
Wait for the Breakout and Retest of the Lower Trend Line or S / R Level
Can SILVER break 31?Highest point Silver reached is 49.75 and next high is 31.10 which means making lower highs since 2011. But now Silver making very bullish pattern if we pay attention to it. Making higher low's, retest the 20.8 area twice and channel pattern. If SILVER able to break channel pattern we might able to see 26.5 - 27.5 area which means SILVER couldn't break that area since JULY 2021 and possible to go even HIGHER.
XAGUSD - H4XAGUSD
Locally, sales can be considered by levels (22.66). The price may begin the 5th wave of the trend on W1. The price corrected to the trend level without fixing to it, from which a local reversal and further decline can be expected.
Weight loss targets - 19.88
What can you expect?
You can try to consider the entry level of 22.66 or according to the market. If the idea fails, it would be possible to make a full move on W1 at significant risk to the idea. Cancellation of ideas from level 22.88.
Targets 21.75 – 21.13 – 20.25 – 19.88
XAGUSD I Short from resistance Hello,Traders!
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XAGUSD is trading in a downtrend
on the daily, however after the recent bullish impulse
and bullish engulfing candle on the weekly, we believe a
correction to 22.28 is in process and then, more
potential upside is probable. Short!
Trade safe and good luck!
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A bearish retest of #silver ? #gumus #xagtryg#silver is now on retest of broken trendline in rising channel. In this retest, if price declines, i expect more dump. NOT FINANCIAL ADVICE.
#gumus su an kirmis oldugu trend kanalina tekrar girmek icin retest yapıyor, bearish retest dedigimiz bu fiyat ataginda onumuzdeki hafta basi itibariyle sert deklinasyonlar gelirse bu #xag gumus fiyati trendinde bir sure ayi piyasasi olusturabilecektir. Sadece teknik ongorudur , her zaman kendi kararlarinizi kendiniz verecek durumda olunuz. YATIRIM TAVSiYESi DEGiLDiR.