Bull flag break out on silver Silver is expected to continue the bullish trend after breaking out of the bull flag pattern which is often interpreted as a trend continuation.
XAGUSD_PER_0.01 trade ideas
Silver Heading for a Breakdown? targeting $30📉 Silver Heading for a Breakdown? ⚠️
OANDA:XAGUSD is facing a major test at $33.10. Failing to hold this level could see Silver tumbling down towards $30! 🚨
📊 Key levels to watch:
Breakdown at $33.10
Major fall expected below $32.50 📉
RSI divergence and rising selling pressure signal that a correction might be on the way! 📉📉
Silver (XAG/USD) Analysis:
The daily chart of Silver (XAG/USD) reveals critical insights for traders:
Resistance and Breakdown Levels:
Silver has reached a critical resistance zone at $33.10. Any failure to hold above this level signals a potential breakdown.
$32.50 serves as the major breakdown point, and if prices dip below this, we could expect further downside movement towards $30.
Bearish Momentum:
The recent price action shows a lower high, which could signify weakening bullish momentum. This is further reinforced by the declining RSI, indicating bearish divergence.
Next Key Support at $30:
The next major support sits around $30. If Silver breaches the $32.50 mark, the expectation would be a move towards this psychological level.
Volume Insight:
A slight increase in volume near the recent resistance suggests strong selling pressure at higher levels. Traders should watch for any spike in volume accompanying a breakdown.
Conclusion:
If Silver breaks below the $32.50 level, a drop towards $30 becomes highly likely. Traders should monitor for potential bearish confirmation, especially with the weakening RSI and volume cues.
SILVER, Rejection from Channel TopBullish Channel
Rejection from Channel Top
New lows formation
Seasonlity indicates bearish moment in NOV, 9/12 times
Short at current price
Initial Target is Bottom of channel
In case of break of channel, it can take support at major levels indicated in red
Erasing the sellsThe white metal may erase the sells that were dominant the past few days. Nearby resistance barriers we'll be the targets. However, failure to go up and a drop below 33.000 we'll likely continue the bearish move.
SILVER (XAGUSD): Bullish Continuation After News
Today's news are certainly bullish for Gold and Silver.
XAGUSD formed a confirmed Change of Character CHoCH
on a 4h time frame, signifying a completion of a local correction.
The price will text a current high now.
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Limited supply of silver with surging demand.Metals markets analyst Steve St. Angelo estimates that in the first half of 2024, the total weighted average cost of production among the leading silver miners rose to at least $26 per ounce.
Silver prices have surged over 6%, surpassing $33.6 per ounce. This rise poses a risk of significant financial losses for five U.S. banks holding large short positions in the metal.
The Commodity Futures Trading Commission (CFTC) reports that open interest in silver futures has reached 141,580 contracts, each representing 5,000 ounces. This totals about 707.9 million ounces, nearly matching a year’s global silver production, concentrated among these five banks.(Source: yahoo)
so if the banks decided to cover short, then the silver will explode.
Green energy means more silver demand.
Europe expects to install 260 GW of new wind power capacity over 2024-2030. The EU-27 should install 200 GW of this – 29 GW a year on average. (Source: Windeurope) which will have 50% more capacity in 2023, and the demand for silver will continue to rise since atypical wind turbines may contain around 0.5 to 1 kilogram (500 to 1,000 grams) of silver for its electrical components, including brushes and other conductive parts.
EVs mean more silver demand.
Average vehicle silver loadings, estimated at 15-28 grams (g) per internal combustion engine (ICE) light vehicle, have risen over the past few decades. Silver use is higher in hybrid cars at around 18-34g per light vehicle, while battery electric vehicles (BEVs) are believed to consume 25-50g of silver per vehicle. It is estimated that nearly 90 million ounces (Moz) of silver will be absorbed annually into the automotive industry by 2025.
Technical
a round bottom, looking for silver to test 50 and likely surpass the resistance.
Morning star weekly detected... 4H time frame Silver ...Its time to go UP next target 36 , geopolitical 42 this week...
Silver price channel 35According to the positive correlation with gold and the American election conditions, and on the other hand, the war conditions in the Middle East increased during the last month and formed a new increasing channel. According to the analysis, this increase can continue with 3 goals, the first to the third goals respectively. The price of 34, 34.5, 35, which has the possibility of increasing to these 3 targets in the coming days
SILVER BEARS ARE GAINING STRENGTH|SHORT
Hello, Friends!
SILVER pair is trading in a local uptrend which we know by looking at the previous 1W candle which is green. On the 45m timeframe the pair is going up too. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 33.031 area.
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SILVER: Market Is Looking Up! 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 33.68170$
Wish you good luck in trading to you all!
XAGUSD View!!Silver held its recent decline to around $33.7 per ounce on Monday as the dollar and Treasury yields rallied further on signs of strength in the US economy and bets that former President Donald Trump will win at next month’s election.
Easing geopolitical risks in the Middle East also pressured precious metals as Israel’s retaliatory strikes on Iran over the weekend did not target crude or nuclear facilities, while Tehran did not immediately vow to respond, raising hopes of a de-escalation in the regional conflict.
Bullish on SilverJust a quick update on Silver.
As I outlined in the previous post, Silver followed the yellow scenario as we expected.
Now, I would like to see Silver show some weakness and hit $32.3 first, then rally up to $36.4.
Gold can also follow the same pattern.
Silver XAG/USD Analysis --- 28.10.2024Downward Outlook for XAG/USD:
Potential support levels: $32.20-$32.15, $32.00, $31.70-$31.65.
Possible further declines towards $31.00, $30.50, and the monthly swing low near $30.00 (tested on October 8).
Upside Potential:
Immediate resistance at $33.65.
If breached, potential to reclaim $34.00 and target the $34.30-$34.35 supply zone.
Further bullish momentum could aim for the $35.00 psychological mark and challenge the October 2012 swing high around $35.35-$35.40.
Silver versus InflationExpecting 2024 to be a year to remember!
Silver on the cusp of another LEGENDARY breakout.
Gateway to MUCH higher prices.
#silver
Bullish Flag Emerges: Silver Gearing Up for the Next Rally?The bullish flag on Silver suggests that the market is in a temporary consolidation phase, with bulls gathering strength for the next push. A break above the pattern's resistance could trigger a continuation rally, while failure to do so may lead to further sideways movement.
SILVER (XAGUSD): Important Demand Zone Ahead
Silver is retracing after a sharp bullish movement.
Ahead, I see a significant demand zone.
The underlined yellow area is based on a rising trend line
and a recently broken weekly/daily horizontal resistance cluster.
With a high probability, we will see an up movement from that area.
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XAGUSD_3Hhello
Analysis of silver in the medium term time frame
Elliott wave analysis style
The market is in 5 downward waves, which is currently in a descending channel and in the 5th downward wave.
For the next week, the important resistance is the number 31.700, and by maintaining this number, it will continue to fall towards the number and range of 3.000 and 30.400, which is the end of the fall, and it can enter a new upward trend towards the number 33.000.
Bearish continuationThe white metal failed to rally up into the 32.000's and we'll likely go further down and touch the Weekly lows.
Silver price down 1.75% (intentional I think) to take longs out.
A lot of people were long on gold and silver on thursday and I think that it was planned to keep the price selley today to take out stops.
Anyway, XAGUSD is down 1.75% and about 31.38 now. I think the price will move swiftly back up if buyers are there.
Join the friday afternoon free silver train long and get paid to do nothing.
Bearish continuation setups taken on Silver and WTI today explaiIn this video, I walk you through my entire thought process during today's trading session. You'll learn how I selected the pairs and executed three key trades:
* Silver Breakdown Retracement Continuation Short, R4,5
* WTI Breakdown Continuation Short, R3
I'll also provide a detailed explanation of the BD Continuation setup, helping you understand how to apply this strategy in your own trading. Breakdown Continuation is one of my personal A+ playbook setups. Don't miss out on these valuable insights and tips!
Bullish reversalSilver dropped and may likely be on a verge of a bullish momentum due to the bearish move losing steam. The previous established regions between 34.480-34.850 we'll be areas of interest to where price is headed to. The move to the upside we'll be significant if the white metal remains above 30.800.
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 31.08239$
Wish you good luck in trading to you all!
XAGUSD 4hr ShortXAGUSD
✅ 4hr Short ✅
💰ENTRY: 31.81100
👎STOP LOSS: 32.16000
TP TARGETS
⏰TP1
⏰TP2
⏰TP3
✅ 3. 4hr Time Frame: Price has made a valid correction into the 10 EMA.
✅ 4. Price has made a Swing high Engulfing candle below the 50ema.
This is a great example of my systematic system.
