MAJOR Move has startedGet on the silver train...the MAJOR move we have been waiting on has started...I loaded up back around $24 in both physical and miners ... things look very very good if you ask me.
XAGUSD_PER_0.01 trade ideas
Incoming ShortThe white metal is currently bullish, but the bullish momentum ran out of steam as price action failed to reach and stabilise the 35.00 region. While the metal is correcting, failure to break through and stabilise above 34.9 - 35.00 will likely see bearish momentum to the immediate supports.
Silver Technical AnalysisFxNews— Silver is trading in a bull market, above the 100-period simple moving average, while the Stochastic indicator signals an oversold condition. This provides a solid bid for bulls to enter the market.
Immediate resistance rests at $33.10. The uptrend will likely resume if bulls close above this level. If this scenario unfolds, the next bullish target could be the October 21 high of $34.25.
Please note that a break below the immediate support at $33.35 would invalidate the bullish outlook.
Bearish on SilverLooking at the 4-hour chart, if we get a close below the recent HL (Wednesday, 30 Oct), I'll be going short with a SL at the Previous LH. This was attempted last Friday and failed. However, since then, it's put in an LH, so it looks more likely this time.
Keep in mind we are still in an Bullish Trend channel which I am expecting to break down in the near term as silver is well overbought atm.
If this does close below the 4hr its likley tomorrow the Daily MACD will also be crossed to the downside.
Ill have a risk to reward of around 1:2
Trade safe all!
SILVER Support Ahead! Buy!
Hello,Traders!
SILVER went down sharply
In a nice bearish correction
But the price will soon hit
A horizontal support
Of 32.18$ from where
We will be expecting a
Bullish rebound
Buy!
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Check out other forecasts below too!
Silver Major Support TestThis is the best thing I see in the market today. High probability that silver bounces here at least once. It's the previous swing high which has provided significant movement on prior tests. Tight stop below with a target of the recent high.
Silver Faces Heavy Resistance: Time to Consider a Short?The price of Silver recently reached a key weekly demand zone from 2012, a level that has historically been significant in the market. Currently, the price appears to be following a similar reversal pattern to Gold, suggesting potential downside in the near term. For a clearer understanding of this correlation, check out my detailed analysis of Gold on my page, where I delve into its ongoing reversal pattern.
In the chart provided below, you’ll see my weekly analysis of Silver, highlighting this critical supply area:
View the chart here.
Market Sentiment and COT Insights
Market sentiment in Silver is still leaning bullish among retail traders, contrasting with the more developed reversal in Gold. The Commitment of Traders (COT) report continues to show strong bullish positioning among retail traders in Silver, which often signals a potential contrarian move. Meanwhile, the Forecast Indicator, which captures seasonal tendencies, is pointing towards a possible reversal in Silver during this part of the year.
Technical Outlook
From a technical perspective, Silver’s move into this weekly demand zone could mark the start of a more pronounced downtrend, aligning with the reversal patterns seen in Gold. Historically, this zone has acted as a strong resistance level, where price has struggled to break higher. As such, it’s a prime setup for a short position with a focus on capturing downside momentum.
The current setup aligns with both technical signals and the COT report’s insights, indicating that smart money may soon start to unwind long positions, adding to the potential for further declines in Silver.
Trade Setup
Given the current scenario, we’re keeping a close eye on Silver for a short setup. Key factors to watch for confirmation include:
-A sustained rejection at the current demand level.
-Divergence signals aligning with a downward move.
Further weakening in Gold, which could act as a leading indicator for Silver’s bearish movement.
Final Thoughts
The current analysis suggests that Silver could be entering a potential reversal phase, similar to what is already underway in Gold. However, it’s crucial to remain patient and wait for confirmation signals before committing to a short position.
I’d love to hear your thoughts on this analysis. Do you think Silver’s reversal is imminent, or is there more room for upside before a potential downturn? Let me know in the comments below!
Mamma Mia, look at that cup & handle! (1M XAGUSD)Just look at that beauty on monthly!
Probably one of the biggest C&H setup I've ever seen.
We're going 3-digits by 2026, probably much higher after that 🚀
SILVER BEARS ARE STRONG HERE|SHORT
Hello, Friends!
SILVER is making a bullish rebound on the 8H TF and is nearing the resistance line above while we are generally bearish biased on the pair due to our previous 1W candle analysis, thus making a trend-following short a good option for us with the target being the 32.380 level.
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SILVER_103 2024.11.01 02:04:05 Trading Signal BUYFrankPro Signal for SILVER_103
Type: Screen
Signal: BUY
TP: 33.504
SL: 32.514
Entry Price: 32.712
Analysis for SILVER
Forecast Overall(Short-Term, Long-Term): ST= Probably Up LT= Strong Up
Forecast Methods(Short-Term, Long-Term):
ST=Same LT=Up
ST=Up LT=Up
ST=Up LT=Up
Analysis Method(0)
Based on the provided data, I will perform a separate analysis for short-term and long-term expectations.
**Short-term Analysis (Next 24-48 hours)**
* The recent price movements show a slight correction, with silver prices extending losses for the second consecutive day, currently trading around $33.60.
* However, the overall outlook remains firm due to uncertainty over the US presidential elections and potential inflationary policies.
* Technical indicators, such as the 14-day RSI, remain bullish, indicating active momentum.
* Support levels are plotted near $32.70, $32.50, and $31.90-$32.10, which may provide a cushion for the price.
**Short-term Expectation:** The price is expected to stay the same or experience a minor correction, potentially testing the support area near $32.70. However, the overall bullish momentum may help the price to rebound and maintain its current levels.
**Long-term Analysis (Next few weeks/months)**
* The silver price surged to near $34.50 following weaker-than-expected US JOLTS Job Openings data, indicating a slowdown in labor demand.
* The horizontal support at $32.50 and the upward-sloping 20-day EMA near $32.70 suggest more upside ahead.
* The expectation for silver to recapture a fresh over 12-year high near $35.00 after breaking out of a three-day consolidation remains intact.
* Economic data, including the US Q3 GDP, PCE data, NFP, and ISM Manufacturing PMI, will influence the Federal Reserve's monetary policy and, in turn, affect silver prices.
**Long-term Expectation:** The price is expected to go up, potentially reaching a fresh over 12-year high near $35.00, driven by bullish technical indicators, supportive economic data, and uncertainty over the US presidential elections.
Result: ST=Same LT=Up
Analysis Method(1)
Based on the provided analysis, here are my conclusions for the short-term and long-term outlook for the XAG/USD (silver) price:
**Short-term Outlook (next few days to a week)**
* The price is expected to go up, but with a slight caution. The current price is struggling to clear the $34.00 resistance level, but the RSI is in bullish territory, indicating positive momentum.
* If the price breaks above $34.00, it could target the year-to-date high at $34.86 and then the October 2012 peak at $35.40.
* However, there are mixed signals from various technical indicators, and some forecasts suggest that silver might attempt to test the support area near $32.70.
**Long-term Outlook (weeks to months)**
* The price is expected to go up. Some forecasts suggest that the XAG/USD rate could rise significantly in the coming weeks and months, with a predicted price of $38.45 by the end of the week and $41.99 in the longer term.
* The overall sentiment in the XAG/USD market is estimated as bullish, with the 14-day RSI reading indicating overbought conditions.
* Geopolitical instability and fears of a recession can also drive silver prices up due to its safe-haven status, supporting the long-term bullish outlook.
Please note that these conclusions are based on the provided analysis and should not be considered as investment advice. The silver market can be volatile, and prices can fluctuate rapidly due to various market and economic factors.
Result: ST=Up LT=Up
Analysis Method(2)
Based on the provided analysis, here is my assessment of the expected price movement of Silver (XAG/USD) for both short-term and long-term:
**Short-term (next few days):**
* The recent surge in silver prices was followed by a two-day correction, which might be a normal pullback after a strong move.
* The technical analysis suggests that silver aims to recapture a fresh over 12-year high near $35.00, indicating a potential upside.
* However, the upcoming US economic data releases (US Q3 GDP, PCE, NFP, and ISM Manufacturing PMI) may cause short-term volatility and potentially impact the price.
* Given the current bullish momentum (14-day RSI in the 60.00-80.00 range) and the horizontal support at $32.50, I expect the price to stay around the current level ($33.60) or slightly increase in the short-term.
**Expected short-term price movement:** Slightly Up or Sideways
**Long-term (next few weeks/months):**
* The overall market sentiment remains firm, driven by uncertainty over the US presidential elections and the potential for protectionist policies and inflation.
* The expectation of former US President Donald Trump returning to power supports the demand for safe-haven assets like silver.
* The technical analysis suggests a potential breakout above $35.00, which could lead to further gains.
* Considering the long-term bullish trend and the supportive market sentiment, I expect the price to increase in the long-term.
**Expected long-term price movement:** Up
Result: ST=Up LT=Up
XAGUSD: 28/10/24After touching new levels, not seen in years. History shows theirs a high probability we're due to see something big.
Silver sits at around 33/o after climbing and tickling 35/o...
A retest of 32/o and climb to new highs is a high probability.
SILVER LONGUp trend in 4H.
Correction with pattern.
String support in 4H and SL line.
Predict impulse, after correction
SILVER (XAGUSD): Significant BreakoutSilver has the potential to rise further after breaking a major resistance level during intraday trading.
The previously breached structure now acts as support, indicating a possible move up towards 34.92.
SILVER: Move Down Expected! Sell!
Welcome to our daily SILVER prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the downside. So we are locally bearish biased and the target for the short trade is 33,92164$
Wish you good luck in trading to you all!
SILVER Will Go Lower! Short!
Please, check our technical outlook for SILVER.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 34.071.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 33.443 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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Silver is Bearish.I am looking forward to see how this setup is going to unfold for i see a Sell to buy continuation structure.
Happy trading.
Could the Silver reverse from here?The price is rising towards the pivot which is a pullback resistance and could reverse the 1st support level which has been identified as a pullback support.
Pivot: 34.27
1st Support: 32.93
1st Resistance: 34.85
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U may be right? I may be crazy, But Silver is going upIf you pull up the 5 year chart on silver, I believe I've found a cup and handle that points to $55 silver. I also remember that the yield curve has un-inverted. That means we have 2 - 4 months (based on a 3-6 month average) on time frame between un-inversion and recession. Thirdly, everything has a correlation of 1. Everything is going up together, and hence it will all fall together. So, my thesis, this explosive move will most likely occur before end of year. Oil, the dollar, check out UUP. You see $50-$55 silver, sell everything. I mean everything. Not just your silver, everything. Silver is always one the very last things to run in a bull market.
Good Luck,
Cheers
SILVER: Market Is Looking Down! Sell!
Welcome to our daily SILVER prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the downside. So we are locally bearish biased and the target for the short trade is 33,21661$
Wish you good luck in trading to you all!
SILVER Buy Opportunity until 35!Hi Everyone!
Thisis Silver! And I have a buy there where you can see for a potential BULL RUN.
