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Silver- 28 could be swing trader's targetAfter the false break under 22 from the end of last months, Silver has started to rise and has broken above the descending trend line.
At this moment the price is slightly under 24.50 resistance and a break here could be bulls trigger for more gains towards 28 zone resistance
Interim resistance is at 26 and only Silver back under 23.50 would change my bullish opinion
Buy dips is my strategy
Silver is heading lowerHi there,
Silver is preparing for the next move lower, we are just making a correction in smaller timeframes for the next target between 19 to 17 usd, watch price action at smaller timeframes and short at the breakdown of the bearish triangle formation. Dxy is also heading higher and preparing a breakout, which gives us confirmation of the down move on silver.
Good luck
Silver- New leg up?As I said in my previous Silver analysis, as long as the price stays above 22.20 support, bulls hold the upper hand.
At this moment, on H1 chart and smaller time frames, we can see a small pennant forming which can lead to continuation.
The confirmation comes with the price above 22.65-22.70 zone and the parget can be 23.50
Silver- Where to buy?After breaking above the trend line resistance on Friday, and confirming the drop under 22 as a false break, Silver has riched a high around 22.7
Now XagUsd is in a normal correction and this can be a good opportunity for bulls to load long positions
A good place for this is 22.30 support and a break back below 22 would invalidate this bullsih scenario
23.50 could be the target
Silver- Buy dips is my strategySimilar to Gold, Silver also has reversed strongly yesterday and at this moment is trading in confluence resistance as well.
A break to the upside would confirm reversal on medium-term and also a false break of support
Buy dips is my strategy and I will remain bullish as long as the recent low is not violated
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
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
XAGUSD Price has just broken the support zone and price did so impulsively, will be looking for sell setups in the coming week.
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 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 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.
XAGUSD touched on the support zone i think there will be a buy chance
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
XAGUSD touched on the resistantHello 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 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.
Please support this idea with a like, if you find it useful
have a good profit week guys