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Silver on pullback resistance, possible re-entry pointSilver has broken our long term ascending support-turned-resistance line stretching all the way back to December 2017 and has made a pullback to this level. This is always a good sign that bears are forcing their way back into the position. This break of our long term support-turned-resistance line has triggered a potential bearish drop from here below 17.03 (Fibonacci retracement, horizontal pullback resistance, bearish exit) for a push down to 16.21 support (Fibonacci retracement, horizontal pullback support). Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
1
Silver has broken major support, prepare for a possible drop!Silver has broken our long term ascending support-turned-resistance line stretching all the way back to December 2017. This has triggered a potential bearish drop from here below 17.03 (Fibonacci retracement, horizontal pullback resistance, bearish exit) for a push down to 16.21 support (Fibonacci retracement, horizontal pullback support). Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
Silver being squeezed for a major move!Silver is seeing major resistance below 17.21 (61.8% Fibonacci retracement, horizontal swing high resistance) while an ascending support line continues to hold price up and squeeze it against this major resistance. A major move can occur in both directions in such scenarios. If price manages to break and close below our ascending support line, this could trigger a strong drop towards our major support at 16.21 (Fibonacci retracement, horizontal breakout level). It is worth noting that Gold which is positively correlated with Silver is also similarly below major resistance. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
Silver testing major resistance, watch for a reversal!Silver is testing major resistance at 17.21 (61.8% Fibonacci retracement, horizontal swing high resistance) and a strong reversal could potentially occur at this level to push price all the way down to 16.21 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing major resistance below 96% and a recent bearish exit signals that further downside movement could occur on price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
Silver testing major resistance, possible upcoming reversal! Silver has started to react strongly off a major resistance level at 17.21 (61.8% Fibonacci retracement, horizontal swing high resistance) and a strong reaction could possibly occur at this level to drive price down to at least 16.21 support (Fibonacci retracement horizontal breakout level). Our next major level of resistance is at 17.64 (78.6% Fibonacci retracement, breakout resistance level). Stochastic (34,5,3) is seeing major resistance at 96% and a corresponding reaction could occur at this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
1
Silver approaching supply area, could a reversal occur?Price is approaching an area of resistance at 16.31 (38.2% Fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback resistance) and a strong reaction could occur at this level. Our next level of major resistance is at 16.63 (38.2% Fibonacci retracement, horizontal pullback resistance) and our next major level of support is at 15.62 (Fibonacci extension, horizontal swing low support). Stochastic (34,3,1) is seeing major resistance at 99% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
XAGUSD-Silver Medium TermMy previous recommendation on Silver to short at 17.30 for a target to 16.85 was successful, For now a top of the head & shoulder pattern is completed, expecting for the right shoulder to be formed to confirm the pattern. Intermediate trend looks to be bearish now as it broke the multi-days bull channel & all momentum indicators are turning bearish so a lower top is needed for confirmation of the bearish trend. Strategy: Short on a bounce around 17.03-22 for a target to 15.87, tight stop above 17.41
FX:XAGUSDShort
by UmarAbdurRehman
Optimistic approach of Silver (XAUGUSD)? For the previous days, Silver (XAGUSD) has been on consolidation mode, and pushed towards the highs of the inside bar despite the good number of US' GDP. Along the levels where XAGUSD currently is is a messy chart. However, as seen on my 1-hour chart, the commodity is clearly above an ascending channel. Breakage of this channel will only result to few higher level. However, if enough catalyst is given for its boost, it may reach the monthly resistance and may possibly form a triple top. It is important to note that this commodity has always been pushed below whenever it touches daily's 200sma. Be careful at that moving average!
FX_IDC:XAGUSDLong
by bearvsbullmarket
XAGUSD (Silver) Long IdeaToday’s trading setup is coming from the XAGUSD (Silver) market. I have spotted a daily pinbar, which has formed just above a support level of 16.500. I am looking for an intraday formation to possibly go long. A good entry point would be 16.750. Currently the price is trading slightly higher, but am looking for a candlestick confirmation. My stop loss would be placed just under 16.20. My first target would be the level of 18.000. The secondary target could be the level of 19.000. Just be extra careful with this setup, because we are in a minor downtrend and the next support level is 15.500.
FX:XAGUSDLong
by colibritrader
XAGUSDToday I am looking at a possible short XAGUSD setup on the Daily chart. There was a bearish engulfing pattern on the daily just below a major resistance area. I am looking for a possible retracement back to the area to initiate a trade. My stop-loss would be above the level of 18.65. My first target is the level of 17.70. My secondary target is the level of 17.70. It really depends on price action around those zones, so should be careful for rejections, which might change my plans.
FX:XAGUSDShort
by colibritrader
XAGUSD (Silver)Today I am looking at a possible short XAGUSD setup on the Daily chart. There was a bearish engulfing pattern on the daily just below a major resistance area. I am looking for a possible retracement back to the area to initiate a trade. My stop-loss would be above the level of 18.65. My first target is the level of 17.70. My secondary target is the level of 17.70. It really depends on price action around those zones, so should be careful for rejections, which might change my plans. Happy Trading,
FX:XAGUSDShort
by colibritrader
Short XAGUSDHi guys, Today I am looking at a possible short XAGUSD setup on the Daily chart. There was a bearish engulfing pattern on the daily just below a major resistance area. I am looking for a possible retracement back to the 18.30 area to initiate a trade. My stop-loss would be above the level of 18.65. My first target is the level of 17.70. My secondary target is the level of 17.70. It really depends on price action around those zones, so should be careful for rejections, which might change my plans.
FX:XAGUSDShort
by colibritrader
Silver: Long strides aheadThis is an update to the revision of my Silver analysis a small month ago. I will try to do more frequent updates from now on. Yesterday's and today's price action leaves, in my opinion, zero doubt that we left behind a long-term market bottom. I think the large ABC correction is behind us. The market found support at the trend line that was established earlier this year and the 200 SMA. If my analysis is correct, then we could now be at the start of a huge 3rd wave up. The first leg took us from a little less than 14$ per ounce all the way up to a little more than 21$ at the top. Look for stabilization above the resistance line I drew; this could provide a very lucrative long-term long position! Trade with care and always respect your stop-loss!
FX_IDC:XAGUSDLong
by Al3x