Silver / XAG Analysis --- 14.10.2024Silver is consolidating near the 61.8% Fibonacci level, with a potential move upward if it holds support. I expect the price to rise to the 31.869 level while managing risk with a stop-loss near 30.721.
XAGUSD trade ideas
Seeing further possible buys on sliver A SIMPLE BREAK AND RETEST in 4 hr TF... followed by a huge rejection candle. I kinda feel like I failed explaining this but next time I'll try videos.
#Silver bearish counter trend opportunityAs seen in the chart, silver has formed a 5-wave bullish impulsive move and has since begun a bearish move, which could be labeled as wave A.
As we know, corrective waves typically occur in three waves. I believe we are nearing the completion of wave B, which could lead to another bearish leg to complete wave C.
This entire 3-wave bearish move could then form wave 2 of 5 on a higher degree.
Therefore, while we might be looking at a short-term bearish move, according to Elliott Wave theory, there is still significant bullish potential in the coming weeks.
#Silver near the end of wave 3 of 5 of 3 From an Elliott Wave perspective, it appears that the price has formed wave 3 in an impulsive bullish move. Therefore, we can anticipate a bearish corrective move to complete wave 4.
Based on the principle of alternation, since wave 2 was a sharp correction, wave 4 could potentially be a more prolonged, time-consuming corrective phase. This suggests that the upcoming wave 4 correction may develop as a more complex or sideways movement before resuming the uptrend for wave 5.
It's important to note that bullish move is still on. However, we may now see a bearish corrective move.
#Silver Elliot wave analysis Based on this Elliott Wave analysis, we are likely at the beginning of a bullish wave 5. This suggests that corrective wave 4, which formed as a regular flat pattern, has concluded, and a new bullish move is set to begin.
As a result, any bearish corrective move should be viewed as a potential buying opportunity.
Let me know if you like Elliot wave analysis.
Silver - Bearish on 04 HR (Head + Shoulders)The reversal pattern on 04 HR is fully finished, and it looks like a shift to a bear market in the short term on the 04 HR chart is 99% probable. FIB level + Elliot wave theory shows the price to be dropped down to the discounted level which would be my take profit area (1 HR Support). if you want to catch a bigger trend on a higher time frame, please do so as the Silver is about to break an all-time high within weeks.
Silver Semestrial ChartThere is now a "wall" of support at 27$.
Crowd will most likely get in when the price gets very stretched above the moving average.
Price will be much higher by then.
#silver
XAGUSD View!!Front Month Comex Silver for October delivery lost 60.80 cents per troy ounce, or 1.89% to $31.520 this week
Largest one week net and percentage decline since the week ending Sept. 6, 2024
Snaps a four week winning streak
Today it is up 51.50 cents or 1.66%
Up for three consecutive sessions
Up $1.165 or 3.84% over the last three sessions
Largest three day dollar and percentage gain since Thursday, Sept. 26, 2024
Off 2.13% from its 52-week high of $32.205 hit Monday, May 20, 2024
Up 42.65% from its 52-week low of $22.096 hit Tuesday, Feb. 13, 2024
Rose 38.69% from 52 weeks ago
XAGUSD - You Should Be In Great Profit If You Bought Below $32Well done to all the smart money traders who bought below $32!
Nearly 5% movement in 3 days!
SILVER: Local Correction Ahead! Sell!
Welcome to our daily SILVER prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the downside. So we are locally bearish biased and the target for the short trade is 31.28041$
Wish you good luck in trading to you all!
SILVER - Idea for a long !!Hello traders!
‼️ This is my perspective on SILVER.
Technical analysis: Here we are in a bullish market structure from daily timeframe perspective, so I look for a long. Point of interest for a long is a rejection from trendline + LZ + FIBO 0.618 level.
Like, comment and subscribe to be in touch with my content!
#XAGUSD 4HXAG/USD (Silver vs. US Dollar) pair on the 4-hour chart is showing a support pattern, indicating that the price is holding firm at a particular level, suggesting a potential bullish reversal.
Pattern Description:
The market seems to have established a solid support level, where downward momentum is being halted. After a period of selling pressure, the price has tested and bounced off this support zone multiple times, signaling that buyers are stepping in to defend this level. This consistent defense suggests that a reversal might be imminent, as the market sentiment shifts from bearish to bullish.
Forecast:
Given the strength of the support level, the current outlook is bullish, with a potential move to the upside. The price is likely to break higher as buying momentum gathers strength. This makes it a favorable opportunity to buy, targeting the next resistance levels. However, it's important to keep an eye on any additional price action and volume confirmation before entering the trade.
Key Indicators:
- Strong support
- Price consolidating near support, indicating indecision before a potential breakout.
- RSI and other momentum indicators suggest oversold conditions, supporting the bullish forecast.
Recommendation:
Consider entering a buy position near the support level, with a stop-loss placed just below the support zone to manage risk effectively. Potential price targets could be set at key resistance areas above.
SILVER: Local Correction Ahead! Buy!
Welcome to our daily SILVER prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the upside. So we are locally bullish biased and the target for the long trade is 31.45871$
Wish you good luck in trading to you all!
XAGUSD Analysis: Slightly Bearish Bias on October 11, 2024The XAGUSD (Silver to US Dollar) pair is expected to show a slightly bearish bias on October 11, 2024, as several fundamental factors and current market conditions weigh on silver prices. For traders and investors looking to make informed decisions today, it’s important to understand the key drivers influencing this precious metal.
Key Fundamental Drivers:
1. Stronger US Dollar:
- The US Dollar has shown some strength following slightly positive economic data releases, particularly in US jobless claims and PPI (Producer Price Index) figures, which came in higher than expected. A strong US Dollar generally pressures commodity prices, including silver, as it becomes more expensive for holders of other currencies to buy dollar-denominated assets.
2. Federal Reserve’s Hawkish Stance:
- Although the Federal Reserve has hinted at a potential pause in interest rate hikes, its overall stance remains hawkish. Comments from Fed officials about maintaining elevated interest rates to control inflation are causing investors to shy away from non-yielding assets like silver, which does not offer interest or dividends. Higher interest rates increase the opportunity cost of holding silver, adding to bearish sentiment.
3. Weakening Demand for Safe-Haven Assets:
- While geopolitical risks, particularly in the Middle East , continue to simmer, the demand for safe-haven assets like silver has not spiked significantly. Market sentiment appears to be stabilizing after recent volatility, causing investors to shift their focus back to riskier assets, which dampens the appeal of silver as a hedge against uncertainty.
4. Industrial Demand Outlook:
- Silver’s dual role as a precious metal and an industrial commodity adds complexity to its price movements. Concerns over a slowdown in global industrial activity, particularly from key consumers like China, are weighing on silver prices. The outlook for industrial demand has weakened, with recent reports pointing to sluggish manufacturing data, further reinforcing the bearish bias for XAGUSD.
Current Market Sentiment:
- Technical Analysis:
- XAGUSD is currently trading near $22.50, a key psychological support level. A break below this level could open the door for further downside movement, with the next potential target being the $22.00 mark.
- RSI on the 4-hour chart is trending below 50, indicating bearish momentum. The price action shows that silver is struggling to maintain any significant upward momentum, aligning with the overall bearish bias for the day.
- Moving Averages: XAGUSD remains below its 50-day moving average, signaling a bearish trend continuation. Traders are likely to view any rallies as selling opportunities, particularly near the $23.00 resistance level.
- Market Sentiment:
- The overall sentiment in the silver market is leaning bearish, as traders remain cautious about the potential for further downside risk in the near term. The strength of the US Dollar and lackluster industrial demand for silver are key contributing factors to this sentiment.
Conclusion:
In summary, the XAGUSD pair is likely to maintain a slightly bearish bias today, as the stronger US Dollar, a hawkish Fed, and weakening industrial demand weigh on silver prices. Traders should keep an eye on key technical levels, as a break below critical support zones could trigger further selling pressure. The fundamental outlook for silver remains subdued, with few catalysts for a bullish recovery in the short term.
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This XAGUSD analysis provides a comprehensive overview of today’s slightly bearish outlook for silver , giving traders insights into the key drivers influencing the market. Stay updated on forex trading and precious metals market analysis for better trading opportunities.
Silver Forecast ... 11.10.2024This silver chart shows a bullish setup with a potential price target around 31.712, following a recent break of structure (BOS). The stop loss is set at 30.887, with a risk of 0.76%, while the take profit aims for a 1.90% gain. Price action is consolidating around equilibrium, indicating a possible continuation of the uptrend.
Ready for impulse?By the looks of things, silver is ready to o higher. The structure (or Elliott Wave count) is indicating that the correction might be over and we already got a reaction to the upside. However it is not a given, the bears could still enter the market however I am siding with the bulls on this.
SILVER: Market Is Looking Down! Sell!
Welcome to our daily SILVER prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the downside. So we are locally bearish biased and the target for the short trade is 30.38629$
Wish you good luck in trading to you all!
I say again....silver runs from hereYes silver has continued to consolidate and has not yet broken out...but I say the pivot is in and we go up from here...timing is tough to ascertain, but I think we are about to see the breakout...very...very...sooooo!
Bearish Bias Amid Stronger USD and Global Uncertainty on Silver.On October 10, 2024, the XAGUSD (Silver to USD) pair is likely to experience a slight bearish bias due to a combination of fundamental factors and current market conditions. For traders focusing on the silver market, today’s trading session will be influenced by several key economic drivers that point to a possible decline in silver prices.
Key Drivers Supporting XAGUSD Bearish Bias:
1. Strengthening US Dollar on Hawkish Fed Expectations
The US Dollar continues to show strength amid renewed expectations that the Federal Reserve may resume its hawkish monetary policy stance. Recent US economic data, particularly stronger-than-expected employment and manufacturing figures, have led to speculation that the Fed might hike interest rates further to control inflation. As the USD strengthens, precious metals like silver tend to weaken due to their inverse relationship.
Keywords: US Dollar strength, hawkish Fed, Federal Reserve interest rate hikes, USD impact on silver, XAGUSD weakness
2. Rising US Treasury Yields Pressuring Silver
With US Treasury yields climbing to new highs, investor preference for higher-yielding assets like bonds is reducing the appeal of non-yielding assets such as silver. As yields rise, silver tends to become less attractive as a safe-haven investment, contributing to the bearish outlook for XAGUSD. Traders are closely monitoring US 10-year Treasury yields, which have been a key pressure point on precious metals.
Keywords: US Treasury yields, silver price pressure, XAGUSD bearish, rising yields impact on silver, bond market vs silver
3. Weak Industrial Demand for Silver
Silver is not just a precious metal; it also has significant industrial demand. However, recent global economic data points to a slowdown in manufacturing activity, especially in key markets such as China and Europe. This has dampened industrial demand for silver, which is heavily used in electronics, solar panels, and other industrial applications. The reduced demand from these sectors is weighing on silver prices, contributing to the bearish outlook.
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4. Geopolitical Uncertainty and Safe-Haven Flow into Gold
While silver is often viewed as a safe-haven asset, it has been overshadowed by gold in recent months due to heightened geopolitical uncertainty. Investors seem to be flocking more towards gold as a safer alternative, leaving silver lagging behind. The geopolitical tensions in Europe, Middle East, and other regions have added to this trend, reducing the safe-haven demand for silver.
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Technical Outlook for XAGUSD
From a technical perspective, XAGUSD has struggled to break above key resistance levels around $23.50. The Relative Strength Index (RSI) indicates that the market is leaning towards the overbought territory, signaling potential downside momentum. If silver fails to maintain support at $23.00, a decline towards the $22.50 level could materialize, confirming the bearish bias for the day.
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Conclusion
In light of the strengthening US Dollar, rising US Treasury yields, weaker industrial demand, and safe-haven flows favoring gold over silver, the outlook for XAGUSD remains slightly bearish today. While silver may find some temporary support from short-term safe-haven buying, the overall market sentiment points towards a bearish bias for the session.
Traders should be cautious of upcoming US inflation data, as it could introduce volatility, but current fundamentals suggest downward pressure on XAGUSD.
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This analysis provides an insight into why XAGUSD may experience bearish price movement today, supported by both fundamental and technical factors. Stay updated with the latest market analysis on TradingView for live silver trading opportunities.
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XAGUSD - When Is The Best Time To DCA?Utilising the most recent dealing range from the 6th Sep 2024 - 4th Oct 2024, we can establish where the equilibrium is located which means it is easier to differentiate premium prices from discount.
Currently as it stands, Silver is trading at a premium and those looking to dollar cost average further into Silver should not be looking at anything above $30.32 as, although we could see a reversal before then, you would be incurring drawdown risk (heat as i like to call it) as there are higher time frame imbalances that has the opportunity to be filled, especially taking into factor the dollar index printing risk off conditions.
Set your alert at $30.89, $30.36 & $29.71.
If you want to play conservative, you could buy physicals or paper at these levels.
Don't worry about further decline (especially if your a physical DCA investor) as Silver is the type of investment that you hang onto for years.
Silver Forecast ... 10.10.2024the chart is displaying XAGUSD (Silver) price action on a 30-minute timeframe. The Fibonacci retracement tool is applied.
Here’s a detailed analysis:
1. Fibonacci Retracement:
The Fibonacci retracement levels are drawn from a swing high of 31.46259 to a swing low of 30.21607.
Key Fibonacci Levels:
0% level (30.21607): Represents the low of the move.
38.2% level (30.69224): Often a retracement point in a downtrend.
61.8% level (30.98642): A strong resistance point in technical analysis.
100% level (31.46259): The starting high of the move.
2. Price Action:
The price has retraced to 30.529 (current level), which is near the 50% retracement level.
Price is trading within a tight range, indicating a possible consolidation phase before a breakout.
3. Buy Setup (Highlighted on Chart):
There seems to be a long trade (buy setup), targeting a move from 30.529 to the 31.46259 level.
Entry Point: Around 30.529.
Take Profit (TP): Near 31.46259 (Fibonacci 100%).
Stop Loss (SL): Near 30.27180, below the 30.21607 swing low.
4. Risk-Reward Ratio:
The risk-reward ratio appears favorable:
Risk: Approx. 0.12856 (750 units).
Reward: Approx. 0.59454 (2156.15 units), giving a potential gain of 1.96%.
5. Technical Outlook:
Support levels: The 30.21607 level represents a key support, as it's the 0% Fibonacci level. A break below this could indicate further downside.
Resistance levels: The 31.46259 level is the resistance to watch, where the Fibonacci retracement completes.
6. Volume:
The volume is low (333 units), indicating that the market might be in a phase of consolidation. A breakout or breakdown is likely with an increase in volume.
Conclusion:
The chart suggests that a bullish move is expected if the price can hold the 30.529 support and break higher toward the 31.46259 resistance.
However, if the price falls below the 30.21607 low, this could invalidate the buy setup and lead to a bearish move.
