💡 SILVER (XAGUSD) - Weekly Technical Analysis Update
Midterm forecast:
While the price is above the support 19.750, resumption of uptrend is expected.
We make sure when the resistance at 24.000 breaks.
If the support at 19.750 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI resistance #1 at 50 is not broken, the probability of price increase would be too low.
A trough is formed in daily chart at 20.890 on 06/14/2022, so more gains to resistance(s) 21.452, 22.127, 22.995 and maximum to Major Resistance (24.000) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 42.
Supports and Resistances:
60.000
49.800
44.200
37.500
33.450
29.850
28.304
26.940
13.600
11.250
9.400
8.450
7.650
7.000
6.200
5.450
4.400
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While the price is above the support 19.750, resumption of uptrend is expected.
We make sure when the resistance at 24.000 breaks.
If the support at 19.750 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI resistance #1 at 50 is not broken, the probability of price increase would be too low.
A trough is formed in daily chart at 20.890 on 06/14/2022, so more gains to resistance(s) 21.452, 22.127, 22.995 and maximum to Major Resistance (24.000) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 42.
Supports and Resistances:
60.000
49.800
44.200
37.500
33.450
29.850
28.304
26.940
13.600
11.250
9.400
8.450
7.650
7.000
6.200
5.450
4.400
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex / Crypto trader?
Now, It's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
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