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ForecastCity_ME
May 8, 2021 5:29 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
sofi_Morphy
Great update! I'm long too. Thanks for sharing. 👍👍
ForecastCity_ME
@sofi_Morphy, You're very welcome! We hope you enjoy it.
heera9440
Hey.... How are you?
Can you please tell me about XAGUSD what to do I am new in market
vaibhavkap0305
This is really informative. Love the analysis done by you and the chart is also so clear. Along with the information here and the records I got from Quantsapp, it is really helpful to grow.
liquidsound1981
First thx for another great analysis of you guys but got a Question on it. Do you see an x10 trade in this case to risky ore witch x factor did you use for it
Sophi2018
Good analysis .
davidgolandak
I like the excellent analysis.
Lalitkh
well done 👍
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