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ForecastCity
May 8, 2021 5:43 PM

💡SILVER (XAGUSD) - Weekly Technical Analysis Update Long

Silver / U.S. DollarFOREX.com

Description



Midterm forecast:

25.75 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 25.75 is broken.

Technical analysis:

A trough is formed in daily chart at 23.75 on 03/31/2021, so more gains to resistance(s) 28.30, 29.85, 33.45 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 64.

Take Profits:


TP1 @ 25.75
TP2 @ 26.60
TP3 @ 28.30
TP4 @ 29.85
TP5 @ 33.45
TP6 @ 37.50
TP7 @ 44.20
TP8 @ 49.80




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Comments
Sophi2018
Very nice chart.
davidgolandak
Good analysis .
rbmcrand133456789
$50 by end of year
Lizabet
Good job! I agree and that's quite possible idea.
ForecastCity
@Lizabet, Thanks for your feedback.
navid97
Good job
ForecastCity
@navid97, Thanks for your comment.
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