69350-69450 Critical resistance level.
IF Silvermic respect that level it will fall to 67400 for now and will face correction.
And if it sustains above 69500, It will make a swing high of 73000.
SIlver future chart showing trendline resistance at 69000. It can short here or on any rise and wait for target 68000 ,67330 and 64000 soon.
major fall will come when it close below 68000.
On Weekly Basis:
Silver completed its correction from USD 12 to 29 in its Grand Wave. There is a support at 23.35 and 22.15 on weekly charts. Grand Correction Wave A, B and C is over in Silver which started in August 2021. B Wave got over in Feb'22 and C Wave got over in August,22. One can be cautiously optimistic and it provides a good choice to buy at 23 or...
Intraday
Silver Long (13 Jan)
W pattern
RSI- 64
Buy at CMP- 68725
SL- 68300
Target- 69210, 69460
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SILVER BUY trade Signal
SILVER has broken the Resistance trendline and closed above waiting to retrace the support area if the market retest the support area then it will be a good opportunity for a long with very good risk-reward
Always trade with Stop Loss
Gold had made triple bottom around 1620 & has made a leading Diagonal in Wave ((1)) of new Impulse so a break down from this leading pattern could result a pullback in Wave ((2)) & in same time DXY should rise in Wave B the larger trend for Gold for this year should remain bullish until we breach 1620 a commodity boom in second half 2023 can push prices to new all...
gold can provide easy money in the coming week
KEY HIGHLIGHTS
gold is testing the upper-level multiple times and creating higher highs inside the range
wait for the breakout and retest of the area of value and take a trade in the direction of trend
Silver is looking very bullish on the weekly time frame charts. If it breaks the trendline with volume, path will be open up for newer highs. target would be around 75000. SL is around weekly low and should be as per risk appetite.
Gold is Bullish. They want to distract you with the "fools gold" (crypto) while they buy the real gold (XAUUSD). They'll tell you to sell when they're buying - just as the banks have been with Gold. Stay Classy and enjoy the new Bull Cycle. (Physical Gold is preferred imo) Check RSI on 3Month chart as well ;) Not financial Advice
SILVER TREND showing BEARISH, as of now after very long BULLISH trend, a Retracement can be expected.
Notice : Who is on LONG positional square off, re enter after Retracement.
Hello Traders,
Hope you all are doing good!!
I expect SILVER to go Down after finishing this correction.
Look for your SELL setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market can...
Analysing the H1 time frame i spotted the raising trend channel where i expect the breakout of the channel below the boundary, but till then the channel is active, you should wait for the breakout then sell at retest area, if you are willing to buy, you can look for confirmation using 5M, 15M TM for trading pull back.
Analysing Daily timeframe, i spotted that the silver traded within the raising trend channel and have reached its resistance, soon the price will reverse to the downside, you can use the FIB numbers to identify next supports as i consider the horizontal key support with rectangle drawing.
Note:
All ideas forecasts are my personal views on the market, I share...
52-Week High 27.500
14 Day RSI at 80% 25.112
Pivot Point 3rd Level Resistance 24.219
23.890 3-10 Day MACD Oscillator Stalls
Pivot Point 2nd Level Resistance 23.719
23.642 61.8% Retracement from the 52 Week Low
Pivot Point 1st Resistance Point 23.379
High 23.220 High
1-Month High 23.220
13-Week High 23.220
Last 23.038s Last
14 Day RSI at...
