Silver- Strongly bearish under 22.50Yesterday I've argued that Silver can drop hard if it breaks the flag pattern.
After the spike on FOMC XagUsd has dropped again, giving us a clear signal that the pressure is on the sell-side and at this moment is trading at 22.60, exactly above the horizontal short-term support and the ascending trend line of the flag.
I maintain my bearish outlook and I'm looking to sell rallies or directly the break.
The target can be the measured one at 21 or, in the short term, 22.30, the recent low support
Xagusdidea
Silver can drop to 19Unlike Gold, Silver is weaker and the price couldn't correct the drop, instead consolidated in a tight range.
At this moment the price is exactly in a strong support zone and considering the incapacity of correcting, I expect a break and a hard fall for XagUsd
My target is 19 and only Silver back above 23 would negate this bearish scenario
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Silver- Clear levels to watchAfter the 22 recent low, Silver rose and reached almost 25 figure.
Now the precious metal is correcting this move and is trading at 23.68 at the time of writing.
A break under 23.40 zone would again expose 22 and, on the other hand, a break above 24 would signal a potential leg up
Silver Analysis, Bears in controlHello everyone, as we all know the market action discounts everything :)
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XAGUSD is bearish on the long-term outlook. The sellers were in charge of the Silver market since June and the bears’ momentum has been increasing. The price has been decreasing accordingly.
The market has pushed above the 23 levels and holding near the support zone, and all the former support levels of 25 and 24 has turned into resistance levels.
Using the Elliot wave theory we can see that the market is having a corrective wave right now which could push it near the 24$ zone where a battle will happen between the Bears and Bulls, and if the Bears wins then the price will be going down near the 22$ level as confirmed by the Elliot theory.
Different Scenarios for the market :
Scenario 1 :
The Market is holding at 23.709 near the support zone from 23.649 to 23.437, The bears are trying to drop the market as much as they can so we could be seeing a breakout happening at that level that would lead the market near the 22$ level.
Scenario 2 :
The Bulls are trying to gain control back over the market as we saw from the last movement on August 23, where the market price jumped from 22.897 and hit 23.938, but they will have to show a lot of power to break the resistance zone at 24.004 to 24.147, But if they were able to break that resistance then we will be seeing the market price going back up near the 25$ level.
Technical indicators show:
1) The market is below the 10 20 50 100 200 MA and EMA (Bearish sign)
2) The MACD is below the 0 line showing that the market is Bearish, With a positive crossover between the MACD line and the Signal line that explains the latest push that happened.
3) ADC is at 48.73 showing that the market is trending, With a negative crossover between DI+ (15.51) and DI- (29.99)
Support & Resistance points :
support Resistance
1) 23.649 1) 24.004
2) 23.437 2) 24.147
3) 23.294 3) 24.359
Fundamental point of view :
Silver prices rallied and remained buoyed, closing with a doji day at the highs of the trading session. This came despite a selloff in gold prices. Durable goods orders declined less than expected and new orders ex-transportation were unchanged. The dollar eased slightly, which helped silver prices gain a toe hold.
Silver of course has a certain amount of an industrial component built into it, and it is worth noting that industrial numbers have fallen quite a bit over the last several weeks. That being said, if we see the US dollar sell-off drastically, it is likely that the silver market may catch a bit of a bid, at least temporarily based upon that alone. According to fxempire.
This is my personal opinion done with technical analysis of the market price and research online from fundamental analysts and news for The Fundamental point of view, not financial advice.
If you have any questions please ask and have a great day !!
Thank you for reading
Silver Price Movement Breakdown Hello everyone, as we all know the market action discounts everything :)
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The XAGUSD price has broken out and dropped from 25.96 to 22.08 in the last couple of days near a 14% drop in price, the Market was trending in a downward channel but it has been broken on Aug 9 where the price dropped from 24.31 and created a long shadow Bearish candle and hit the 22.10 range. The XAG/USD has a critical support around $23.20. A break lower would expose the $23.00 area that if broken, should trigger a bearish acceleration.
The market price was able to stabilize a bit after that drop and it's trending 23.55 right now.
We can notice a couple of scenarios for the market price movement for the next few days.
Scenario 1:
The Market price is trending at 23.45, near the first support level at 23.27 the Bulls will try to gain control back but most likely they will fail and the price will drop even more and its gonna be headed near the major support area at 22.84, where the real battle between the Bulls and Bears will be. If the Bears were able to keep control then a further drop in price will happen.
Scenario 2 :
The market price is trending at 23.45 if the Bulls were able to get some support behind them then we could be seeing the price going up and hitting the first resistance line at 23.70, Then The Bulls will test the bears strengths at that level, if they fail and the bears took control then we will see what's happening in Scenario 1 come to life, If the bulls were able to break that resistance level then we could be seeing a small bounce back up near the 24.13 level.
Technical analysis showing :
1) The Market price is below the 5 10 20 50 100 200 MA and EMA, Strong sell signal
2) The MACD below the zero line showing that the market is in a Bearish state, with a negative crossover between the MACD line and Signal line.
3) The ADX at 37.25 showing that the market is currently trending, with a negative crossover between DI+ (10.59) and DI- (41.77).
Support & Resistance points :
support Resistance
1) 23.275 1) 23.705
2) 23.025 2) 23.885
3) 22.845 3) 24.135
Fundamental point of view :
Silver is marginally lower on Tuesday, as it remains far from the $22.10 bottom of the crash it suffered on Monday. During the American session, XAG/USD bottomed at $23.22. The metal again was able to find support around the $23.20 area and bounced to the upside.
The upside in silver remains limited despite gold rising almost $10 in a few minutes. Silver is following gold with the recovery but at a slower speed. Both metals managed to recovery despite higher US yields but were supported by an improvement in risk sentiment.
Volatility eased during the last hours but is set to remain at extreme levels on the coming session, even as metal stabilize. On Wednesday, inflation data from the US is due, and it will be watched closely as it could affect expectations about Fed’s monetary policy.
After the sharp decline on Monday, the outlook is still bearish for silver. In the very short term, a break above $23.45 (downtrend line) should alleviate the bearish pressure, and would clear the way for a test of the daily high at $23.68. According to fxstreet
This is my personal opinion done with technical analysis of the market price and research online from fundamental analysts for The Fundamental point of view, not financial advice.
If you have any questions please ask and have a great day !!
Thank you for reading.
Silver could dive againUnlike Gold, Silver corrected the steep Monday's drop in the same day, and confirmed old support as resistance.
In the past days the price consolidated in a range and a new drop is probable at this point.
I will look to sell rallies and only a close above resistance would change my bearish opinion
Silver- New leg down soon?After proving 28 zone as a strong resistance, Silver has started to roll back just to find 25.50 zone as support.
One month of consolidation followed and at this point, XagUsd looks ready to break down.
23.80 support could be bears target and Silver back above 27 would negate this scenario
XAGUSD touched on the resistantHello Traders Welcome back to another profit day
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Here is the full analysis for this pair, Let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
XAGUSD touched on the resistant zone i think there will be a sell chance because there a strong resistant and fib retracement is also in the resistant
Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts.
The information given is not a Financial Advice.
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have a good profit week guys
XAGUSDHello Traders Welcome back to another profit day
If you like my idea please give me a like and comment, That's will be a great appreciation to do more predictions
Here is the full analysis for this pair, Let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
XAGUSD moving through minor support area take small units long trade from minor support, if in case silver fall into the major support take big units long trade
Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts.
The information given is not a Financial Advice.
Please support this idea with a like, if you find it useful
have a good profit week guys
Silver- Bulls need a clear victory above 28Since the beginning of April the price of Silver has risen by more than 20%.
Now the battle is given between 27 and 28 levels and we will have a winner soon.
I'm bullish in the medium term and I expect a break above 28.
30 is my target, but a daily close under 27 would deny my outlook
XAGUSD growing from the support, time to buyHello Traders Welcome back to another profit day
If you like my idea please give me a like and comment, That's will be a great appreciation to do more predictions
Here is the full analysis for this pair, Let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
After today fall silver trying to grow up, Let's watch together
Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts.
The information given is not a Financial Advice.
Please support this idea with a like, if you find it useful
have a good profit week guys
Silver- back to 23.80 support?Silver is trading in a range for 2 weeks now with a clear ceiling at 26.50.
Bulls are unable to take control and drive the price above this level and XagUsd keeps rolling down to support
A breakdown seems imminent for Silver and short-sellers can have a target under 24.
Sell rallies above 26 can be a good strategy and only a clear close above 26.50 would negate this scenario