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ForecastCity_ME
May 22, 2021 7:20 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 peak is formed in daily chart at 28.75 on 05/18/2021, so more losses to support(s) 26.60 and minimum to Major Support (25.75) 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 58.

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
AR_kooshani
Looks good to me. Thanks for sharing .
ForecastCity_ME
@AR_kooshani, Most welcome
Mehmetozdemi
Very nice chart.
ForecastCity_ME
@Mehmetozdemi, Thank you
Mesutkashmar
Thanks, bro! Good work!
ForecastCity_ME
@Mesutkashmar, You're welcome
sofi_Morphy
Thanks for the great update
ForecastCity_ME
@sofi_Morphy, Most welcome
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