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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.
TVC:SILVER
by Larissa-Trader
1
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.
OANDA:XAGUSDShort
by tradingconmike
Silver- Will it drop another 1k pips?Since last Friday's high and strong reversal from 23.50, Solver has dropped 1500 pips. Like in Gold's case, bulls were unable to recover some of the losses and XagUsd is consolidating in the support zone at 21. Here we could also have a new leg down after the consolidation and the obvious target for this drop (swing trading) is the next support at 20, so, 1k pips under the current level. I'm bearish as long as the price stays under 21.50 in terms of daily closing.
OANDA:XAGUSDShort
by Mihai_Iacob
11
Silver- will history repeat itself?As I said, before, I usually use XagUsd as a leading indicator for Gold, and more often than not, this is the case. Also recently, although XauUsd made a new low, XagUsd stopped its descent and reversed and on Monday the reversal was very strong, with the price slightly getting back above both the ascending trend line and the horizontal level followed by a clear up break the next day(yesterday) If we look back at March, we could see a similar pattern, we a double false break and strong reversal. With a renewed appetite for precious metals, we can expect price action to act in a similar way. Technically speaking, a false break leads to reversal, and also, the recent bottom is marked by a lot of reversal candles and candle formations. 23.25 is strong confluence support and considering a trade in that zone with a target in the next important resistance a trade with a 1:4 risk: reward could be achieved
OANDA:XAGUSDLong
by Mihai_Iacob
5
XAGUSD I Daily correction and continuation on the weeklyWelcome back! Let me know your thoughts in the comments! ** XAGUSD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
FXOPEN:XAGUSDShort
by BKTradingAcademy
Analysis of the silver priceOn the other hand, technical indicators on the daily chart have not yet confirmed a positive outlook. Therefore, the $23.00 confluence region might continue to act as a barrier for any subsequent move up. Immediately following this is the ascending trend-channel resistance, which currently stands around $23.45 in price. As long as the XAG/USD maintains a strong upward trend beyond the 61.8% Fibo, a positive breakout will be confirmed. It is possible to regain $24.00 by reclaiming the $23.60 region. As long as the XAG/USD keeps climbing above the intermediate barrier of $24.20-$24.25, toward the $24.55 swing high of June, the positive momentum could continue. The downside is likely to attract some buying and remain limited near the $22.65-$22.70 area, or the 23.6% Fibo, if price weakness lower than $23.00 is confirmed. In addition, we need to consider "level." If this is broken, the XAG/USD could slide back toward the $ 22 mark. Falling prices will likely reach the $21.70-$21.65 zone en route to the $21.25 support and $21.00 mark if some follow-through selling occurs.
FOREXCOM:XAGUSD
by enclavefx_Analaysis