Silver Looks Jumpy, Might Be Ready For $34I see July ending strong for Silver, in the $33-$35 range. We'll see.
Side Note: Political Violence = Everyone Loses. Be gentle out there.
Trade Slick. DYOR.
SILVER trade ideas
XAG----usd------Bearishthere is before series of higher and higher low and after getting rejection from resistance and break of trend line
now we have three points for reversal
1. Break of trend line
2. Rejection from resistance
3. Divergence
SILVER Is Very Bearish! Short!
Please, check our technical outlook for SILVER.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 30.620.
The above observations make me that the market will inevitably achieve 29.279 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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SILVER SENDS CLEAR BEARISH SIGNALS|SHORT
Hello, Friends!
SILVER pair is in the downtrend because previous week’s candle is red, while the price is clearly rising on the 17H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 29.733 because the pair is overbought due to its proximity to the upper BB band and a bearish correction is likely.
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still years for a breakoutSilver in its 3rd congestion phase.
I estimate another 5 years of sideways
movement before a giant break out.
markets even though manipulated will find their true
value in the end. just like the housing market worldwide is centrally planned. Eventually it will crash and burn.
while some people hold 5 houses and others rent for life.
real wealth comes from living a good life and having good
health and not from renovating houses and conspicuous consumption.
SILVER BULLISH Similar to the highly correlated asset with xauusd, it shows bullish price action , the wick down grabbed the buyside liquidity, a little pull back to the 1 hour demand zone would be nice to drive up to the supply area above .
XAGUSD - 14 JUL 2024 UPDATE - RANGEMonthly Range on Silver Near to the Downside of the Range.
On Weekly be have 2021 High recently broken through to upside
We have the Daily Trendline showing 2 points touch upside
4H - Main 5 has 5 touches ( 30. 847 )
SILVER (XAGUSD): Bullish Outlook Explained
Silver may start growing next week after the market opening.
I see a nice bullish engulfing candle on a 4H time frame
after a test of a strong intraday horizontal structure support.
I think that the price will reach at least 31.2 level.
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SILVER Will Go Down! Sell!
Please, check our technical outlook for SILVER.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 30.973.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 29.002 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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XAGUSD ...Front Month Comex Silver for July delivery lost 50.20 cents per troy ounce, or 1.60% to $30.886 this week
Largest one week net and percentage decline since the week ending June 7, 2024
Down two of the past three weeks
Today it is down 50.80 cents or 1.62%
Largest one day dollar and percentage decline since Monday, July 8, 2024
Down two of the past three sessions
Off 4.10% from its 52-week high of $32.205 hit Monday, May 20, 2024
Up 48.15% from its 52-week low of $20.848 hit Thursday, Oct. 5, 2023
Rose 23.47% from 52 weeks ago
Off 4.10% from its 2024 settlement high of $32.205 hit Monday, May 20, 2024
XAGUSD silver sell short ideaAfter wave 12345
wave ABC
wait fibo 50/61.8 retracement
and then sell
preper risk management
weekend cash backSilver to rise in the next 6 hours to yesterday's high, a 1:2 risk to reward trade. see the chart for more details
Silver's Bullish Rebound from $29.00 Support Silver has shown a robust recovery, bouncing back strongly from the crucial support level of $29.00, which is in confluence with the 50% Fibonacci retracement level from the last swing. This resurgence in the white metal's price is noteworthy, especially considering the recent United States (US) Retail Sales data. The retail sales grew meagerly by 0.1%, which was slower than the expected 0.2% increase and follows a 0.2% contraction in April. Despite this lackluster economic indicator, silver has managed to gain ground.
Adding to the positive outlook, there is a divergence on the stochastic indicator, suggesting that further gains could be on the horizon. Historically, silver tends to enter a bullish phase starting in July, often reaching new highs during this period. This seasonal trend adds further support to the potential for silver's upward movement.
In anticipation of market fluctuations, we have set a limit order to take advantage of any deeper retracements. However, our overall perspective remains decidedly bullish. We expect silver to continue its upward trajectory, potentially making new highs and possibly retesting the $35 area.
This strategic positioning aligns with historical patterns and technical indicators, reinforcing our confidence in silver's bullish prospects. Investors should keep a close eye on market developments and be prepared to capitalize on the anticipated rise in silver prices.
XAGUSD: Curve AnalysisSilver has moved out of the Supply Zone at $31.54.
If the price action remains below $30.76 for both the opening and closing, it is likely that the downtrend will continue.
If the price action breaks below this level, it suggests a bullish rejection, signaling a potential continuation of the downtrend towards the demand around 27.00.
SILVER: Wave 3) of ((C)) will start soon.DISCLAIMER : All labelling and wave counts done by me by manually and i will keep change according to the LIVE MARKET PRICE ACTION. So don't bias, hope on my trade plans...try to learn and make your own strategy...Following is not that much easy...I AM NOT RESPONSIBLE FOR ANY LOSSES IF U TOOK THE TRADE ACCORDING TO MY TRADE PLANS....THANKS LOT..CHEERS
XAGUSD 7/8/2024XAGUSD PRICE ACTION ANALYSIS IN THE COMING 3 WEEKS
Let's hope it coincides with the analysis in the coming weeks
Have a good week ahead
