Silver Long IdeaDecent pullback on silver today, looks like a dip buy to me. Sitting at trendline and horizontal support right now. Great spot for an entry with a stop below.
XAGUSD01 trade ideas
Silver, buying at retracement After several days of oversold conditions, silver has finally cooled down. I anticipate a price retracement to 32.925 or 32.520, coinciding with the 0.618 for 0.50 fib level for the value of price.
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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 34.24632$
Wish you good luck in trading to you all!
silver to 35$ Rate Cut Expectations Hello Traders as I can see Silver Breaks Above $30.19 as Fed Rate Cuts Loom, Eyes $31.76 and $32.52 as Bullish Targets for the Week Ahead. Dollar Weakness and Gold Inflows Propel Silver Higher; Traders Await Fed's Upcoming Interest Rate Decision. Fed Rate Cut Expectations Soar: Markets See 57% Chance of 25-Basis-Point Cut, 43% Chance of a Bigger 50-Basis-Point Cut
is moving toward to 35$ range as we can see bull market continues on the base of FFR cut Expectations also technically chart is showing us that the descending Triangle breakout is a clear view to continue Rally till 35$. Silver prices surged last week, breaking above the $30.19 per ounce mark and confirming a bullish trend on the weekly charts. The rally brought key levels of $32.52and $35 into focus. Optimism that the U.S. Federal Reserve is preparing to cut interest rates, coupled with a weaker U.S. dollar and strong gold inflows, fueled silver’s upward move.
Dollar Weakness and Gold Inflows Drive Silver Higher. One of the key drivers of silver’s rise was the U.S. dollar’s continued decline, which hit its lowest level of the year against the yen. A weaker dollar typically boosts silver by making it cheaper for holders of other currencies. Additionally, global gold-backed exchange-traded funds (ETFs) saw continued inflows, with the SPDR Gold Trust reaching its highest levels since January. This increased demand for gold also lifted silver prices, as the two metals often move in tandem. Friends its just a trade idea make proper research before entering any trade Support the idea it will help many other traders Stay tuned for more updates ....
SILVER heads up into $ 33: Golden Sister of our Bouncer and TOP?Commodities have been in a strong uptrend.
Silver is approaching a MAJOR fib at $32.96.
a "Golden" Ratio and sister of our bouncer.
Here is a Single-Pane chart for easier copying:
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Silver XAG/USD Analysis --- 23.10.2024The XAG/USD first resistance would be $35.00. Once cleared, the next stop would be the October 2012 high at $35.40, followed by the August 2011 peak at $44.22, and ahead of the all-time high at $49.83.
Silver may have a hard correction of this rally A bearish divergence is forming in #silver #xagusd chart. A correction is necessary soon. Not financial advice.
Top 5 Weekly Trade Ideas #4 - Silver LongThis is another recycled idea from past weeks. It's zoomed in on the 15m, zoomed out shows the bull flag I recently posted about. It hit target #1 pretty quickly, but also double topped there. Pretty rough day today, but it held on a retest of the bull flag for a second time, also didn't make a new lower low. I think if it can clear that double top, it could see a big move up to at least 37.
The case against this is the fact that DXY and treasury yields are rising after the last jobs report. You wouldn't normally want to bet on precious metals while that's happening, but that stuff has been all over the place. We have war tensions and other things like CPI and Hurricane Milton coming later this week so I don't claim to know what's about to happen. If things get chaotic and silver is able to breakout above 32.50 I'll be confident in that at least.
Exploring Silver’s Recent Performance: Insights by André CardosoFX_IDC:XAGUSD
Silver’s Recent Breakout and Momentum
Silver has shown impressive bullish momentum after breaking through the stubborn resistance level at $32.95. This breakout has set the stage for a potential uptrend, fueled by strong buying activity.
Navigating Overbought Conditions and Historical Patterns
Since October 11th, silver has been consistently in overbought territory. It’s important to note that similar instances in the past have often preceded downward corrections, as evidenced in the corrections observed in August and September.
Fibonacci Extensions and Support Levels
Silver is currently approaching the 161.8% Fibonacci extension from its recent low between October 4th and 8th, which experienced an 8.65% decline. Subsequently, the market reacted positively, nearing the formation of a potential bearish crab pattern.
Identifying Potential Bearish Signals
Watch for signs of the bearish crab pattern forming around the $34.72 mark. This pattern could signal a shift in silver’s recent upward trend, potentially leading to a retracement towards previously breached major resistance levels, particularly around $32.51.
Strategic Moves for Savvy Investors
For long-term investors, the former resistance level, now acting as support at $32.51, is a critical focal point. Monitoring this level closely can guide strategic decisions on position adjustments and navigating the silver market effectively.
André Cardoso
I shorted the Silver price a short time ago at 34.44
This trade is doing well, volatile until sellers properly formed, but I won't be shorting it for long as this is only a small correction I feel.
Gold and Silver have been delivering Long trades so well lately, that their price has to adjust a bit downwards before the next session. IE. New York. You would've maybe noticed Gold and Silver sold off at the end of New York yesterday, but smart money moved in with buy orders with a fair 'hunch' that the precious metals prices would continue their ascent in the Asia Tuesday session.
Silver should struggle near the 161% extension Intraday Update: Silver is nearing the 161% extension as pullbacks have been shallow. With intraday RSI's divergent, that would suggest the 34.78 level will be key resistance on this rally.
Is Silver About to Rewrite the Rules of the Global Financial GaIn a remarkable twist of market dynamics, silver – long overshadowed by its golden cousin – is positioning itself for what could be its most dramatic transformation in decades. Russia's unprecedented decision to add silver to its central bank reserves has sent shockwaves through the precious metals market, potentially signaling a fundamental shift in how central banks view this dual-purpose metal. This strategic move, combined with a staggering supply deficit of 663 million ounces projected through 2024, suggests we may be witnessing the early stages of a historic price realignment.
The numbers tell a compelling story: a 41% price surge year-to-date, pushing above $33.89 per ounce, with analysts projecting potential moves beyond $40 before year's end. Yet it's not just the price action that's turning heads. The convergence of industrial demand from emerging technologies, particularly in renewable energy and electronics, alongside traditional investment demand, has created a unique supply-demand imbalance. This structural deficit, coupled with major central banks' expected rate cuts in 2024, could catalyze a powerful upward price trajectory.
Perhaps most intriguing is the current gold-silver ratio of 81:1, sitting well above its historical average of 55:1. This disparity, viewed alongside Russia's groundbreaking policy shift, raises a provocative question: Are we witnessing the early signs of a new monetary paradigm where silver reclaims its historical role as a strategic reserve asset? For investors and market observers alike, the unfolding story of silver in 2024 may well represent one of the most compelling opportunities in the precious metals space – a narrative where industrial necessity meets monetary revolution.
Silver's point & figure chartRoad map to 48$.
While the crowd sleeps... this is unfolding before our eyes.
#silver #xagusd
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 34.63460$
Wish you good luck in trading to you all!
XAG/USD Analysis: Silver Price Approaching $35XAG/USD Analysis: Silver Price Approaching $35
Precious metal prices are fluctuating near multi-year highs due to safe-haven demand driven by:
→ Uncertainty surrounding the U.S. elections,
→ Ongoing tensions in the Middle East,
→ Expectations of central banks lowering interest rates.
As seen on the XAG/USD chart, silver prices:
→ Are near their highest levels in 12 years,
→ Are approaching the $35 mark,
→ Have risen by over 43% since the start of the year.
Technical analysis of the XAG/USD chart indicates that silver is following an upward trend (shown in a blue channel), with the current price near its median line. This suggests a potential balance between supply and demand, which could stabilise price fluctuations.
Key observations:
→ A red resistance line on the chart reflects a corrective phase within the blue channel.
→ Breaking through this resistance in September triggered a strong bullish impulse (marked by a blue arrow).
→ This impulse was so robust that it pushed the price above the psychological $30 level, turning it into support.
A similar pattern might emerge in the future. After another strong bullish move (marked by a second blue arrow), the $32.5 level could also become a support area.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
SILVER Will Go Lower From Resistance! Sell!
Here is our detailed technical review for SILVER.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 34.118.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 30.110 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 SELLERS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
The BB upper band is nearby so SILVER is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 32.444.
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XAUUSD PROJECTION As you can see price is literally in an uptrend but we can see a breakout from the supply zone which Will now be our demand zone and DZ is a buying zone. Retracement and exhaustion
Silver Set to Test Support Amid Bullish MomentumHello,
OANDA:XAGUSD has seen recent highs, and silver is now set to test support levels. The expectation is for continued bullish movement until a solid resistance point is established.
TradeWithTheTrend3344
