Is Silver ready to rise again?Since the false break under 18, back in September 2022, Silver has entered a nice up trend and has risen around 40%.
After the recent high of around 26, the price corrected, and after the confirmation of new support in old resistance bulls look ready to take control again.
The next target could be the 27 zone.
Buyers should keep in mind that before both strong reversals, the price has had a false break
Xagusdlong
XAGUSD - Growth is possible | Market outlookMain scenario
Long positions will become relevant above the level of 24.48 with the targets at 27.00–28.80.
Implementation period: 7 days and more.
Alternative scenario Alternative scenario
The breakdown and the consolidation of the price below the level of 24.48 will let the asset go down to the area of 22.77–21.36.
SILVER Bullish Continuation after Pullback?
Hello Traders,
On the Weekly Chart we have been slowly trending down in a Channel.
20 Day EMA (white line) has crossed up the 20 Weekly EMA (turquoise line).
After break of Weekly Trendline to the upside I am expecting a Pullback to the Trendline or near the 20 Day EMA and then a bullish continuation to 28.000 price range.
PS. Be gentle it´s my first idea. :-) Any Feedback is welcomed.
SILVER BULLISH OUTLOOKSilver is gaining momentum, similar to the other precious metal, Gold. But their purposes are different: while Gold is used as protection against inflation from investors, silver has a lot more industrial uses, especially in the green energy sector. This makes the metal a lot more sought after.
Both MACD and RSI are confirming the bullish trend, and if it continues, targets of 27.5 and even 29.1 can be expected.
On the opposite scenario, as a pivot point, 23 might be considered, and if silver surpasses that level, further down movement to levels of 21.9 can be observed.
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XAGUSD H1 ZONE MARKING.We have XAGUSD H1 Analysis for Zone Marking.
According to this analysis, we can see the price still running under 200MA & price also tests trendline with selling pressure is a sign of a Selling trend for more confirmation of we market demand & supply zone which is mentioned in the downside
Demand zone3@ 21.356 to 21.426
supply zone1 @ 21.989 to 21.871
supply zone2 @ 22.548 to 22.630
Supply zone3 @ 23.612 to 23.396
Supply zone4 @24.654 to 24.366
With this analysis, you will be able to find your most profitable trade. EnclaveFX does not recommend that you buy or sell this assist. We do not take any responsibility for your profits & losses. EnclaveFX believes in enhancing the knowledge of our clients & followers
XAGUSD H1 DEMAND & SUPPLY MARKING We have XAGUSD H1 Analysis for Zone Marking.
According to this analysis, we can see 200MA cross over the 50EMA is a sign of a Selling trend for more confirmation of we market demand & supply zone which is mentioned in the downside
Demand zone1@ 21.226 to 21.161
Demand zone2@ 21.356 to 21.251
Demand zone3@ 21.526 to 21.426
supply zone1 @ 21.989 to 21.871
supply zone2 @ 22.548 to 22.630
Silver -> The Bounce Is InevitableHello Traders,
welcome to this free and educational multi-timeframe technical analysis.
The last three weeks Silver perfectly tested a quite obvious previous weekly support zone, which was now turned resistance and with this weeks candle the market finally rejected the zone towards the downside.
Considering the fact that we are now testing an insanely strong weekly support zone, I do at least expect a short term short covering rally towards the upside, after Fridays harsh dump towards the downside.
From a daily perspective we are also close to retesting previous support, so I am now just waiting for a deeper retest of the support zone, before I will then enter a long position on Silver.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
XAGUSD - Waiting for a breakout … for the week of 02 Jan 2023Silver has been steadily making its way to the up side since mid Dec 2022. At the top it has been contained around the 24.24 level, while it has been consistently making higher lows. This kind of price action is similar to a spring that is coiling up and it will have a strong release.
I expect this coiling PA to continue for a few days still. If this works out as I expect, we should see higher lows continue to be printed, while being contained above the 20 ema for some time. Then a break out should occur. Entries can be at the point of breakout or if/when a retest occurs. The 1st target can be 25.35 region with the potential to seek 26.36.
Always use sound money and risk management and stay patient in all your trades.
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We Have an Analysis Of XAGUSD H1. This Analysis is Based On Price Action Theory.
According to this Analysis, the market comes through the descending channel with multiple pullbacks & bounces back during this phases price in ranged and also break Descending channel with buying pressure form new Ascending channel if price will follow the channel then we have targeted price near 22.82451 & if the price break the channel then we have target down side 22.03910 & 21.61170