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Silver

Silver bears have limited territory to rule, 200-SMA is criticalSilver’s U-turn from 50-SMA gains support from downbeat RSI, not oversold, to direct the sellers towards a monthly support line of around $24.50. While the MACD conditions hint at the receding bearish bias and suggest a bounce off the stated trend line support, the 200-SMA level surrounding $24.30 acts as a last defense for the bulls. Should the bright metal drop below $24.30, the bears will tighten grips while aiming 61.8% Fibonacci retracement of February-March upside near $23.80. Meanwhile, recovery moves will have a tough time crossing the $24.35-40 resistance confluence including the 50-SMA and a downward sloping resistance line from March 10. If at all the silver buyers manage to cross the $24.40 hurdle, the bulls will target the $26.10 level comprising multiple tops marked in the last three two weeks. It’s worth noting, however, that a sustained run-up beyond $26.10 could open doors for the metal’s rally challenging the monthly top close to $27.00. Overall, silver prices are likely to witness further declines but the room to the south is limited.
OANDA:XAGUSD
by MTradingGlobal
Silver pierces six-month-old resistance despite overbought RSISilver pierced 61.8% Fibonacci retracement (Fibo.) of May-September 2021 downtrend to refresh seven-month high on Tuesday. Following that, an upward sloping trend line from September 2021 challenged the metal’s buyers but couldn’t hold the forte. Also acting as the key hurdle is the overbought RSI conditions suggesting a pullback. Given the quote’s sustained trading above the $26.20 trend line figure, the 78.6% Fibo. level surrounding $27.15 and multiple levels marked during mid-2021 around $28.20 will question the commodity’s rally targeting the May 2021 peak of $28.72. Alternatively, a pullback in silver prices, which is widely anticipated, needs validation from the late 2021 peak of $25.35. Following that, January’s high of $24.68 and the 200-DMA near $24.10 will gain the market’s attention. If at all the commodity prices break $24.10 DMA support, it becomes vulnerable to test the 2022 bottom close to $22.00. During the fall, the 100-DMA level of $23.50 may act as an intermediate halt. To sum up, silver prices stay above the short-term key resistance line as the oscillators suggest a pullback move.
OANDA:XAGUSD
by MTradingGlobal
Silver bulls eye 200-DMA on Russia-led risk-off moodAfter three consecutive weeks of upside, silver had a sober start to the current week as it marked the first negative daily closing in four. However, the latest anti-risk headlines, mainly concerning odds over the Russian invasion of Ukraine, help XAG/USD to refresh its monthly high. Also, the bright metal remains above a 13-day-old support line amid firmer RSI and MACD signals. As a result, bulls can keep the 200-DMA level of $24.30 on the radar once the quote pierces the $24.00 threshold. It should be noted, however, that the metal’s upside past-200-DMA may become difficult due to the RSI’s nearness to the overbought territory, if not then the previous monthly peak surrounding $24.70 should return to the charts ahead of directing buyers to $25.35 key hurdle. Meanwhile, pullback moves remain elusive until breaking the stated support line, around $23.65 at the latest. Following that, a downward trajectory towards the 100-DMA level near $23.30 and then to the $23.00 threshold can’t be ruled out. It’s worth noting that a 78.6% Fibonacci retracement (Fibo.) of September-November 2021 upside, near $22.20, should lure silver bears once they break $23.00. Overall, silver remains in the recovery mode with an intermediate pullback testing short-term technical support.
OANDA:XAGUSD
by MTradingGlobal
Silver Analysis !! #Silver #Bullions Description : Silver is forming a beautiful triangle as lower supports are getting tested whereas upper resistance levels are getting lower as you can see with trendline zone. Support Area : Break of Support at 21-22$ downside will lead to immediate support at 19$. Although Support are has been tested several time it breaks might see free fall. Resistance Area : Break of resistance on upside 25-25.5$ on upside will lead to 28$ and then followed by 30$
COMEX:SI1!
by ShelendrAgrawal
Silver remains vulnerable to further downside despite reboundSilver prints corrective pullback around three-week low, bouncing off 78.6% Fibonacci retracement (Fibo.) of December 15 to January 20 upside. It’s worth noting, however, that the MACD remains bearish and the RSI is off the oversold territory while silver prices keep a downside break of a seven-week-old ascending trend line. As a result, XAGUSD bears remain hopeful to revisit the $22.00 support. Following that, lows marked in December and September of 2020 around $21.40 become crucial to watch. On the flip side, silver’s recovery moves beyond the previous support line, around $22.65, will be challenged by the 200-SMA level of $22.95. Also acting as a nearby upside hurdle is the $23.00 round figure, a break of which will direct buyers towards a fortnight-old resistance line, around $23.45. Should silver prices remain firmer past $23.45, the 50-SMA level near $23.60 as a last line of defense for bears, following that the metal’s run-up towards the $24.00 round-figure and January’s peak of $24.68 should return to the charts.
OANDA:XAGUSDShort
by MTradingGlobal
SILVER (XAGUSD) | Best point for sale🔥Hello traders, Silver in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe. The wave count performed for the silver weekly time creates several movement scenarios, but in all of these scenarios an upward movement the size of wave (1) is confirmed in the current analysis. In the current analysis, wave 1 is composed of wave probably 5 at higher times, and we are inside wave 2. Wave 2 is inside wave a and wave a forms its four waves in the form of five waves in the form of a triangle, and wave 5 is placed around the Fibonacci 0.38 or the lower side of the triangle. In the current state of wave 5, a microwave is completed, and in the next wave and in the next wave, half of the previous wave is corrected in the first motion of this wave; The completion of this wave can be done with the same correction or it can be completed in the form of two other waves that are formed in the form of sideways in the same range and then the next descent to the lower side of the triangle occurs. But in the next case, the descent will be created without any other side movement. Finally, it should be said: If the fibo is broken or the upper side of the triangle, which is more like a channel, is disappointed with the continuation of the downward movement and the wave count is somewhat different. 🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏 ❤️Please, support this idea with a like and comment!❤️
FX_IDC:XAGUSDShort
by mahdisoltaninjad
SILVER MCX : How to make money?IS THIS A GOOD TIME TO BUY OR WAIT FOR MORE CLARITY Silver has a major support @ 61150 One can buy with a Stop loss of this support for 1000 points rally from current level. BUY @ 61540 TGT @ 61850-62250-62800 ======= Trading is not about trying to capture every move. Look at the charts carefully and trade only if you are sure about your analysis. Follow the rules, be patient and stock market will definitely reward you... ======= Take care, trade safe !!! Regards Team Moneymarine
MCX:SILVER1!Long
by moneymarine