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SILVER / US DOLLAR KILOSILVER / US DOLLAR KILOSILVER / US DOLLAR KILO

SILVER / US DOLLAR KILO

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XAGUSDK trade ideas

Elliott Wave Expects Silver (XAGUSD) to Continue Bullish moveSilver (XAGUSD) is close to breaking above previous peak on 5.20.2024 high at 32.51. A break above the level confirms the next leg higher has resumed. Short term, rally from 9.9.2024 low is in progress as a 5 waves impulse Elliott Wave structure. Up from 9.9.2024 low, wave ((i)) ended at 31.23 and pullback in wave ((ii)) ended at 29.68. The metal has resumed higher in wave ((iii)). Up from wave ((ii)), wave i ended at 30.27 and pullback in wave ii ended at 29.89. The metal extended higher in wave iii towards 31.29 and wave iv pullback ended at 30.60. Final wave v higher ended at 31.43 which completed wave (i) in higher degree. Pullback in wave (ii) ended at 30.34 with internal subdivision as a zigzag structure. Down from wave (i), wave a ended at 30.88 and wave b rally ended at 31.34. The metal then extended lower in wave c towards 30.34 which completed wave (ii) in higher degree. The metal has turned higher again in wave (iii). Up from wave (ii), wave i ended at 31.01 and wave ii pullback ended at 30.61. Expect wave iii to end soon, then it should pullback in wave iv to correct cycle from 9.23.2024 low in 3, 7, 11 swing before it resumes higher again. Near term, as far as pivot at 29.68 low stays intact, expect dips to find support in 3, 7, 11 swing for further upside.
FX_IDC:XAGUSD
by Elliottwave-Forecast
XAGUSDTechnical and Fundamental Analysis of Silver (XAG/USD) Based on the provided chart, a detailed technical and fundamental analysis of silver is presented below: 1. Overall Market Trend: Strong Uptrend: The chart indicates a strong uptrend where silver prices are approaching a critical resistance level. This resistance is around $31.96, a level the price has previously struggled to break. Key Resistance Level: Around $32.00, the price has attempted to break through this level multiple times but has failed. This level is recognized as a strong psychological and technical resistance area. 2. Candlestick Patterns: Bullish Candlestick Pattern: In recent days, strong bullish candlesticks have been observed, indicating a market inclination toward upward movement. Possible Reversal Pattern: If a candlestick pattern such as a "Pin Bar" or "Doji" forms at this resistance level, it could signal a price reversal and the inability to break the resistance. 3. Chart Patterns: Double Top Pattern: If the price fails to break the $32.00 level and reverses downward, a double top pattern may form, signaling a potential bearish reversal. Potential Resistance Break: If the price manages to break this level, it could trigger a new uptrend, potentially pushing the price higher toward $33.00 or beyond. 4. Fundamental Analysis: Macro-Economic Factors: Silver, as a safe-haven asset, is influenced by global economic changes and inflation. In times of economic uncertainty and rising inflation, the demand for silver as an inflation hedge tends to increase. U.S. Dollar: Fluctuations in the U.S. dollar can also impact silver prices. A weakening dollar may lead to an increase in silver prices. 5. Trade Suggestions: Long Scenario (Buy): If the $32.00 resistance is broken: Entry Point: After a candle closes above $32.00, consider entering a buy position. Stop Loss: Around $31.50, just below the breakout level. Take Profit 1: $33.00. Take Profit 2: $34.00 (if the uptrend continues). Short Scenario (Sell): If the price fails to break the $32.00 resistance and reversal signals appear: Entry Point: Between $31.90 to $32.00 (after observing bearish reversal signs in candlesticks). Stop Loss: Above $32.20. Take Profit 1: $30.50 (first support level). Take Profit 2: $29.50 (next support level). 6. Risk Management: Using a stop loss is crucial due to the proximity to the resistance level. The trade size should be adjusted according to capital and risk tolerance. Conclusion: Silver prices are approaching a strong resistance level. If this level is broken, a buying opportunity arises, but if the price fails to break it, there is a chance of a reversal towards lower support levels. For more detailed and up-to-date analysis, always consider market conditions and fundamental factors. Given the comprehensive silver analysis, attractive trading opportunities are ahead. For more professional and precise analyses, make sure to follow Dr. Rezvani's page and benefit from daily insights and up-to-date trading signals! 🌟
SAXO:XAGUSD
by Masih_Rezvani
SILVER Is Going Down! Short! Take a look at our analysis for SILVER. Time Frame: 6h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a significant resistance area 30.843. 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 30.078 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. Like and subscribe and comment my ideas if you enjoy them!
OANDA:XAGUSDShort
by SignalProvider
2
The most bullish chart you will ever seeVERY LONG TERM OUTLOOK and very likely the setup of our lifetime Bigger the base higher in space. Silver is breaking out of a shorter term basing of just the handle in what is a 44 year basing pattern in the manifestation of a cup and handle For visual purposes: Arrows represent 8 year cycle lows loosely corresponding to the same 8 year cycle lows in gold give or take a few months here and there Red arrows are followed by a left translated cycle Green arrows are followed by a right translated cycle Logarithmic chart cup and handle target is 677$ USD
OANDA:XAGUSDLong
by Commodity_TA_Plus
1
SILVER Technical Analysis! SELL! My dear friends, My technical analysis for SILVER is below: The market is trading on 30.830 pivot level. Bias - Bearish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation. Target - 30.032 Recommended Stop Loss - 31.311 About Used Indicators: A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames. ——————————— WISH YOU ALL LUCK
OANDA:XAGUSDShort
by AnabelSignals
1
#XAUUSD 1DAYXAGUSD Daily Analysis: Buy Opportunity on Trendline Breakout The silver market (XAGUSD) is currently presenting a compelling buy opportunity following a significant trendline breakout. This technical development suggests a potential shift in market sentiment and upward momentum. 1.Trendline Breakout: The price has decisively broken above the established downward trendline, signaling a shift from bearish to bullish sentiment. This breakout typically indicates the possibility of a sustained upward movement. 2.Confirmation Indicators: The breakout is supported by increased trading volume, which reinforces the strength of this move. A closing candle above the trendline further validates the bullish outlook. 3.Support Levels: The previous resistance level is now acting as a support zone, providing a safety net for buyers entering at this point. 4.Technical Indicators: Momentum indicators, such as the RSI, are moving toward overbought territory, while the MACD is showing a bullish crossover, suggesting that momentum is building. 5.Market Sentiment: Positive economic developments and increased demand for silver in industrial applications contribute to the favorable outlook. Additionally, geopolitical tensions may drive safe-haven buying. Conclusion With the trendline breakout signaling a shift in momentum, a buy opportunity in XAGUSD looks promising. Traders should consider entering positions with a stop-loss just below the breakout level to manage risk effectively. Keep an eye on economic data releases and market developments that may impact silver prices.
OANDA:XAGUSDLong
by PIPSFIGHTER
Crowded trade with too many bullsLooks like another triple fail top. Silver was the original hopium trade before crypto ever existed. An easily manipulated market because the religious nature of silver believers. With the creation of the internet, the stories of Bigfoot, UFO's and the coming death of the dollar have become mainstream. With this status, people have piled in not understanding that bull markets do not go straight up, and that one can easily have 50% drops or greater. We are now near such a correction. The bull market will probably not be dead, but the pumpers and PM dealers will still be treated as honest and knowledgeable people for the next round of victims.
TVC:SILVER
by Earthmatrix