ForecastCity_ME

SILVER Weekly Technical Analysis Update

FOREXCOM:XAGUSD   Silver / U.S. Dollar
Midterm forecast:
18.95 is a major support, while this level is not broken, the Midterm wave will be uptrend.
We will close our open trades, if the Midterm level 18.95 is broken.

Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 17.35 on 06/24/2020, so more gains to resistance(s) 25.10, 26.20, 27.00 and more heights is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 77.

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Comments

Thanks a lot!
+1 Reply
ForecastCity_ME Forecast_Crypto
@Forecast_Crypto, you're welcome
Reply
Love the clean analysis, very nice
+1 Reply
@Kamryn, Thank you
Reply
Great analysis, keep up the great work!
+1 Reply
@Sir_Ray, Thanks for your comment
Reply
Your analysis is very accurate. Thanks a lot
+1 Reply
@Kristalyn, You're very welcome
Reply
Thanks a lot
Reply
great analysis
Reply
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