Silver
SILVER will there be further growth?As we can see, SILVER has been showing growth since March. 5 times he tried to break through the $ 28 resistance level, but to no avail, there were only false breakouts. Now the price has approached the resistance level again and is trying to test it. If the price breaks through the resistance level and consolidates, then growth is possible. If again there is a false breakout or the price bounces, then the price may even fall.
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XAGUSD - BULLISHDescription:
The counter XAGUSD is moving upwards in the support trend line from 06th May. The support trend line has been tested thrice at the prices 25.68, 27.18 and 27.55. The price is still maintaining above the support trend line and there is no indication for a breakout. The buying pressure of the market may pull the price even more upwards. The existing bullish trend is expected to continue for this condition. The upward movement of the MACD indicator curves gives additional support to the description.
The major levels for this counter are
R2 – 28.32
R1 – 28.10
PP – 27.74
S1 – 27.53
S2 – 27.16
74500 is importantNeed daily close above 74500 to negate this downward slope.
Disc : it's not an investment advice to buy or sell
Silver ready for new upmoveDaily closing above $28 will provide required momentum and once closes above $31, we might be in for new ATHs in Silver. Plan and trade accordingly.
Disclaimer: idea only for educational purpose. No recommendation to buy/sell.
💡SILVER (XAGUSD) - Weekly Technical Analysis Update
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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What's you perception ???Chart says everything. Silver has been taking supports over T1 and facing resistance against T2. Currently it is moving in an upward channel (T3 & T4) which may continue higher or crash till it gets another support over T1, depends upon the news and events. Long or short positions can be initiated as per the price action that will appear in upcoming days.
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SILVERMIC | Again falling into the channel (Risky trade)SILVERMIC | Again falling into the channel (Risky trade)
CMP : 73200
SL : 73800
Target : 72500,72200
1:2 risk reward setup
Nice weekly breakout#Hindzinc
****THIS TRADE IS AN IDEA GIVEN TO ME BY MY MENTOR KRISHNAKUMAR****
Gave nice breakout on daily and weekly charts today.
Although this weeks chart is not completed yet, but taking risky entry utilizing partial funds as it has given breakout on daily charts after 3 years.
Will add more if it dips to retest breakout.
Also, it is forming nice channel pattern.
///Kindly trade as per your own analysis. ///
XAGUSD SHORT WE CAN GO FOR SHORT IN SIDE THE PATTERN WITH SMALL SL.
AS PER DOW Theory we have lower low now and pullback so short possibel
💡SILVER (XAGUSD) - Weekly Technical Analysis Update
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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Trade well, ❤️
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Silver observation Silver looking weak inside outside bollinger band and momentum is also slowing down.
Can see a target around 70,400
Sl will be previous 3 hr candle high
R:R 1:3
Silver observation A nice dead cat bounce pattern is form in silver. If it sustain more than 2 or 3 than it can give us a good target of around 2200 points.
Mangal Credit: Multibagger in making. 10X?1. Very good financial
2. No debt
3. Company entering into gold, silver & diamond jewellery loans
4.Currently operating in Maharashtra and now entering Gujarat and Rajasthan.
5. Credit rating of IVR BBB- with an outlook stable on its long-term bank facilities of Rs20cr by Infomerics Valuation & Rating Private Limited.
6. Experienced promoters, Comfortable Capital Adequacy Ratio and Comfortable capital structure.
Silver Observations Silver might be a good investment. Wait for the right opportunity.
1. Pole and pennant pattern.
2. RSI comes to 50 at first time from 80 RSI and goes sideways between 60 and 50 RSI.
CONFIRMATION
1. When RSI will close above 60 and %B will Also close above 1.
DOUBLE CONFIRMATION.
When Pennant pattern will break.
Target would be length of the pole make sure to put STOPS as well .
