XAGUSD Short-term buy signal above the 1D MA50.Last time we looked into Silver (XAGUSD) almost 2 months ago (November 22 2024, see chart below), we gave an excellent bounce sell signal that easily hit our 29.500 Target:
Based on this +2 year Channel Up, which remains valid, another break above the 1D MA50 (blue trend-line), would be a buy signal similar to July 12 2023. As you can see, the price continues to repeat the Channel Down of the Bearish Leg that started on May 05 2023.
As a result, our short-term Target is just below the 0.786 Fib at 33.0000.
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Xagusdsignals
#XAGUSD 2HXAGUSD (2H Timeframe) Analysis
Market Structure:
The price has broken above a key resistance level, which is now acting as support. This change in role indicates potential bullish momentum, with buyers likely to dominate if the level holds.
Forecast:
A buy opportunity is expected as the price respects the new support level, confirming the breakout and signaling further upward movement.
Key Levels to Watch:
Entry Zone: Near the support level after confirmation that the price is holding above it.
Risk Management:
Stop Loss: Placed below the support level to limit downside risk.
Take Profit: Target the next resistance levels or Fibonacci extensions for potential upside movement.
Market Sentiment:
The transition of resistance into support reflects strengthening buying interest, favoring upward continuation as long as the support holds.
Can Silver Maintain Momentum Above 28.70?In my previous OANDA:XAGUSD analysis, I mentioned that the price appeared to be forming a head-and-shoulders pattern, with confirmation if the price broke below the 30 level.
Indeed, just before Christmas, the price dropped below this critical milestone and reached a low near the 28.70 zone.
However, instead of continuing toward the technical 28 support level, the price found new support at 28.70, forming a double bottom at this level.
Similar to Gold, Silver began the year on a positive note, reversing upward and retesting the broken neckline level at 29.80 for the second time.
Currently, the price is trading below this level.
A decisive break above 30 could trigger bullish momentum, leading to a potential rally toward the 32 resistance zone.
For now, I'm bullish on Silver as long as the 28.70 support zone holds.
#XAGUSD 4HXAGUSD (4H Timeframe) Analysis
Market Structure:
Resistance Trendline Breakout: The price has broken above a key descending trendline resistance, indicating a potential shift in momentum toward the upside.
Forecast:
Buy Opportunity: The breakout suggests bullish momentum, with further upward movement likely as long as the price holds above the broken trendline.
Key Levels to Watch:
Entry Zone: After breakout confirmation or a retest of the trendline as new support.
Risk Management:
Stop Loss: Placed below the broken trendline or recent swing low to limit downside risk.
Take Profit Zones: Focus on the next resistance levels or Fibonacci projections for potential targets.
Market Sentiment:
Bullish Bias: The breakout above trendline resistance reflects increased buying interest, supporting expectations for further gains.
#XAUUSG 1DAYXAGUSD (1D Timeframe) Analysis
Market Structure:
Trendline Support Breakdown: The price has moved below a key trendline support, indicating a potential shift in momentum towards the downside.
Forecast:
Sell Opportunity: The breakdown suggests weakening buying pressure, and sellers may take control, leading to further declines.
Key Levels to Watch:
Entry Zone: After confirmation of the breakdown or a retest of the broken trendline acting as resistance.
Risk Management:
Stop Loss: Placed above the broken trendline or recent swing high to minimize risk.
Take Profit Zones: Focus on upcoming support levels or price zones identified through Fibonacci extensions.
Market Sentiment:
Bearish Bias: Sustained movement below the broken trendline indicates a bearish outlook, with sellers likely dominating the trend.
Trading Silver: Sell Rallies Amid XAG/USD’s Bearish MomentumLast week, OANDA:XAGUSD made several attempts to break through the 32.30 resistance zone but failed to sustain any momentum. Much like the price action in OANDA:XAUUSD , Thursday was marked by a bearish engulfing candle, which was even more significant given the preceding day's Doji formation. Following the formation of this bearish engulfing candle, the price dropped sharply, reaching a local low around the 30.30 level, marking a 2,000-pip drop from the previous high.
The structure forming since mid-September resembles a potential head and shoulders pattern, although it has not been confirmed yet.
If the price breaks below the 30.00 zone, it could put further pressure on the selling side, triggering more downside momentum. In this scenario, the next key support level to watch would be around 27.80, with the measured target for the pattern being approximately 25.00.
At this point, resistance is positioned at 31.50, and any rallies approaching this level should be viewed as potential selling opportunities. Sellers may look to capitalize on these rallies, anticipating a continuation of the downtrend.
Additionally, the bearish outlook is reinforced by a bearish Pin Bar on the weekly chart, which adds further weight to the negative bias. This combination of factors—bearish patterns on both the daily and weekly charts—suggests that the downward pressure could persist, with further downside potential for XAG/USD in the near term.
In summary, traders should remain cautious about buying in the current environment. Instead, the focus should be on selling rallies, especially near key resistance levels, while keeping an eye on the 30.00 support level as a key area for potential breakdown.
Silver is pressing for an up breakIn my Monday analysis, I noted that Silver was gathering momentum just below the 31.40 resistance level, with a high probability of breaking upward. Such a breakout could pave the way for a significant rise of approximately 2000 pips.
As anticipated, the price broke above 31.40, climbing nearly 1000 pips before beginning a period of correction and consolidation.
My bullish outlook remains firmly intact, and I continue to expect a move toward the 33.50 level.
The strategy of "buying on dips" should remain the focus for traders. Additionally, a decisive break above 32.50 would confirm the next leg of the rally, potentially unlocking another 1000-pip rise toward the target.
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Silver could rise 2k pipsIn my previous analysis of Silver, I highlighted the 31.40 resistance zone, suggesting that the price could reverse from that level and potentially drop below 30.
Initially, the price did retreat after touching the 31.40 zone, but it lacked follow-through to the downside. As of now, Silver has returned to this key resistance area.
Recent price action resembles a "build-up" pattern, with the market steadily pressing against this resistance.
A decisive break above 31.40 would also activate a double-bottom pattern visible on the daily chart. Based on the measured target for this pattern, Silver could gain as much as 2,000 pips in the days ahead.
Silver- Could it drop to 28?In my previous analysis of silver, I mentioned the potential for prices to drop below the significant $30 level. This scenario unfolded as expected, with prices dipping to $29.66 before reversing and once again hovering around the $30 mark. This area continues to act as a pivotal point for market sentiment.
From a technical perspective, the outlook remains bearish as long as the $31.20 resistance level holds. This level serves as a key threshold, and until it is breached, the strategy should focus on selling into rallies.
A decisive break below the $30 level could pave the way for a move toward the next major support around $28. Such a development would align with my broader bearish view when it comes to precious metals
Silver could drop back under 30Unlike Gold, Silver showed far less volatility last week and behaved in a more technical manner.
After peaking on Tuesday, Silver remained range-bound, even as Gold rallied an additional 700 pips. Currently, Silver is testing its support level, but I suspect this support will eventually break.
Similar to my approach with Gold, my strategy for Silver is to sell into rallies. A potential first target for this drop is 29.70.
XAG/USD "Silver vs US Dollar" Market Heist Plan on Bullish SideHello!! My Dear Robbers / Money Makers & Losers, 🤑 💰
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XAGUSD Bearish as long as it trades below the 1D MA50.Silver (XAGUSD) is on a strong correction since the October 23 2024 High, which was a Higher High on the 2-year Channel Up. This is technically the new Bearish Leg. The previous one (started on the May 05 2023 High), initially targeted the 1D MA200 (orange trend-line) and the 0.382 Fibonacci retracement level.
That was of course after a first Lower Low rebound to the 1D MA50 (blue trend-line) where it was rejected (June 09 2023). It appears that technically the price is on a similar situation, so as long as the 1D MA50 closes candles below it, the short-term trend is bearish. Our Target is 29.500 (just above the 0.382 Fib upon expected contact with the 1D MA200).
Notice also that the 1W MACD is past a new Bearish Cross, a pattern similar to the May 24 2023 Bearish Cross, which confirms the Bearish Leg.
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XAGUSD Silver: Is the Bullish Breakout Here to Stay?👀👉 Silver (XAG) has been gaining bullish momentum, with a clear breakout in market structure visible on the daily and 4-hour timeframes. My bias remains bullish, and I’m closely monitoring a retracement into the Fibonacci 61.8% zone for a potential entry. In this video, we take an in-depth look at Silver, applying a trend continuation strategy to identify high-probability setups. Disclaimer: This content is for educational purposes only and should not be considered financial advice. Always conduct thorough research before making trading decisions. 📊✅
XAGUSD updateSilver has formed a descending trend line and broke it so now we can expect this pair to retest the blue upper trendline on the higher timeframe so we can enter a buy position now and once he reject the high trend we can close our buy and enter a sell trade
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Silver could have found its bottomSilver has also experienced a sharp decline, falling nearly 5,000 pips from its recent multi-year high around $35.
However, unlike OANDA:XAUUSD , we saw a reversal pattern in OANDA:XAGUSD yesterday with a Pin Bar that aligns well with technical support just above the psychological level of $30.
As I’ve mentioned before, Silver often serves as a leading indicator for Gold, especially at market turning points.
For example, even when gold recently reached its all-time high, Silver failed to reach a new high and instead formed a lower high, signaling the potential for a decline.
Looking specifically at XAG/USD's technical indicators, the price held firmly at horizontal support and reversed yesterday, forming a strong Pin Bar on the daily chart.
I remain bullish on Silver as long as yesterday’s low remains intact, and I’ll be looking to buy on dips.