SLIVER STRONG DOWN OPPORTUNITY 1. Resistance Breakout Possibility
The analysis assumes a rejection at resistance, leading to a drop. However, if bullish momentum increases and breaks the resistance, it could trigger a strong rally instead of a decline.
2. Support Weakness
The support area identified might not hold if there's strong bearish pressure. If the price falls sharply, it could break support instead of bouncing, leading to further downside.
3. False Breakout Risk
The projected downtrend might be a false move, where price briefly dips but then rebounds, trapping sellers before reversing to the upside.
4. Market News & Fundamentals
SILVER trade ideas
XAG_USD LONG RESULT Silver Price brokedown my major Trendline Support and dumped massively. Although after the dump I could see bulls trying to reclaim the highs again, also like I've said earlier Silver is still Bullish on HTF, and even now we can see a consolidation ranging phase approaching the resistance Trendline, so we'll see if it breakdowns further or breaksout and reclaims the Highs.
XAGUSD H4 I Bearish Drop Based on the H4 chart analysis, we can see that the price is nearing our sell entry at 32.00, a pullback resistance close to the 38.2% Fibonacci retracement.
Our take profit will be at 31.19, an overlap support.
The stop loss will be placed at 32.57, above the 61.8% Fibonacci retracement.
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Bearish reversal off pullback resistance?The Silver (XAG/USD) is rising towards the pivot which is a pullback resistance that line sup with the 38.2% Fibonacci retracement and could drop to the 1st support which has been identified as an overlap support.
Pivot: 32.09
1st Support: 30.97
1st Resistance: 32.58
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SILVER SHORT FROM RESISTANCE
Hello, Friends!
We are now examining the SILVER pair and we can see that the pair is going up locally while also being in a uptrend on the 1W TF. But there is also a powerful signal from the BB upper band being nearby, indicating that the pair is overbought so we can go short from the resistance line above and a target at 29.766 level.
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Silver Technical Analysis (1-Hour Chart)OANDA:XAGUSD
Current Price: 32.45
Key Support Levels: 32.0, 31.7, 31.0
Target Resistance Levels: 32.8, 32.9
#### Overview
Silver prices are currently at a critical support level. If this support holds, we may see a bullish move toward the resistance area of 32.8 to 32.9. Before that potentially upward movement, silver is expected to retrace slightly to the 32.0, 31.7, or even down to the 31.0 region.
#### Key Levels to Watch
- Support Levels:
- 32.0: This level is crucial for maintaining bullish sentiment. A sustained hold above this level could validate the upwards potential.
- 31.7: This level acts as an additional support zone and might provide buying opportunities if tested.
- 31.0: Should the price break down further, this level would be critical to watch for signs of a rebound or reversal.
- Resistance Levels:
- 32.8/32.9: If silver successfully holds above the support levels and bounces back, these resistance zones will be key targets to monitor. An upward breakout past these levels could signal increased bullish momentum.
#### Chart Patterns
- Potential Retracement:
- Prior to any significant upward movement, a retracement to 32.0 - 31.0 is expected. Traders should watch for key reversal signals or bullish patterns that could indicate a potential buying opportunity in this area.
#### Conclusion
Silver's ability to maintain support levels around 32.0 will be crucial in projecting a bullish move toward the resistance area of 32.8 to 32.9. Traders should closely monitor the price action around the support zones for potential buying opportunities as well as retracement levels. As always, incorporate sound risk management practices in trading decisions.
Disclaimer: Please ensure to conduct thorough research and consider current market conditions before making trading decisions. Good luck!
SILVER INTRADAY previous breakout level retest?The Silver (XAGUSD) price action sentiment appears bullish, supported by the longer-term prevailing uptrend. The price action creates a sequence of higher highs and higher lows. The recent consolidation appears to be a breakout and a corrective pullback towards the previous support zone.
The key trading level is at 3166, which is the previous consolidation range. A corrective pullback from the current levels and a bullish bounce back from the 3166 level could target the upside resistance at 3253 followed by the 3316 and 3340 levels over the longer timeframe.
Alternatively, a confirmed loss of 3166 support and a daily close below that level would negate the bullish outlook opening the way for a further retracement and a retest of 3125 support level followed by 3100.
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SILVER Is Going Down! Short!
Please, check our technical outlook for SILVER.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 32.267.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 30.865 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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XAGUSD Possible IdeaXAGUSD has been moving bullish as it is in a higher time frame expansion phase. As we can see, it recently broke the previous 4h and daily high with momentum. It preceded to retrace and consolidate within the 4h and daily range, forming all sorts of internal liquidity in the process. It is now approaching a very strong demand zone that it could use to shift structure internally, targeting the latest 4h and daily swing high to form a new higher high.
Weekly Precious Metals Market Analysis:Silver (XAGUSD)-Issue 200The analyst believes that the price of XAGUSD will decrease within the time specified on the countdown timer. This prediction is based on a quantitative analysis of the price trend.
___Please note that the specified take-profit level does not imply a prediction that the price will reach that point. In this framework of analysis and trading, unlike the stop-loss, which is mandatory, setting a take-profit level is optional. Whether the price reaches the take-profit level or not is of no significance, as the results are calculated based on the start and end times. The take-profit level merely indicates the potential maximum price fluctuation within that time frame.