Silver Mini Buy / Sell based on FIBO and GANNSell silver mini 62520 Stop loss 62630 Target 61790 / 61200
Mcxsilver
#SILVER $XAGUSD positioned to tumble overSilver rallied up in three waves - and has now completed and a-b-c structure. The fall in the last 30 mins could accelerate and take the issue to new lows. Watch the indicated risk level for exits if caught on the wrong side.
MCX Silver's Next Target 65200 by the Elliott WaveHere, I have applied Elliott wave , moving average , volume , and MACD . Wave 4 can be steady or sideways for a while. Overall, silver is in an uptrend. Safe investors can buy silver at wave 4 for the following levels:
Intraday Targets: 62100 - 63300
Positional Targets: 64260 - 65200
At present, moving average and MACD throwing upward signal by crossover. Technically, multiple volume spikes are a great sign of a bullish trend.
BUY SILVER @ 61150 - 61250 TGT 61900 - 62300 SL -60600BUY SILVER @ 61150 - 61250 TGT 61900 - 62300 -62550
SL - 60600
INTRADAY & POSITIONAL.
MCX - SILVER Analysis Flag Pole formation in Silver; Higher probability of a positive breakout
Watch levels for target
$SILVER $MCXSILVER $XAGUSDSilver has moved up as suggested in the earlier post. However the 2nd upward swing from the low seems more like a C wave of a ZigZag than a 3rd wave. Unless there is immediate move above the channel line we are headed lower in the near future.
$SILVER #XAGUSD should rally from wave 4 low to new highsSilver seems to have completed its wave 4 correction, Wave C (circle) being slightly greater than Wave A (circle). This means Silver should rally to new highs in the near future.
#SILVER #XAGUSD may have completed its fall in wave CSilver seems to have completed its 5 wave fall and should settle at this level or slightly lower before it moves up from the current levels. We are near the end of wave 4 at a primary degree and should move to new highs if it gets support at these levels
Silver Breakout Not Confirmed YetA consecutive breakdown below to 23.60% means 38.20% ( 64K - 62K ) will come soon.
Otherwise, it will keep moving forward for 72K - 73K+ .
Silver MCX falling| Will it fill the Gap? MCX Silver had a steep fall on 11 Aug 2020.
There are two gaps at 57k and 54k .
Fib retracements show them amidst possible entry level.
MCX Silver Complex Big PictureIn the last trading session, silver has gained +361 points. As we updated in previous newsletters, silver is flying with gold. Silver wings may cutoff after breaking out 60,000 levels and may fall till a hit of control price line. Hence, this breakout will lead the prices 59,000 to 58,000 . Don’t forget to keep your eyes peeled at 5 MA (orange).
Currently silver is running above 61K. As per this 4-hourly chart, we can expect continuous uptrend for the levels of 62,000 – 63,360 – 65,000+ . It could keep pushing upward until a crossover of 5 MA and 2 0 MA (blue). Further information I will update shortly.
