Silver
💡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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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 .
BuyBuy silver at cmp and in dip at 25.90 sl 25.50 target $27.36
Disc : it's not an investment advice to buy or sell
XAGUSD - Silver - Falling wedge patternPrice forming falling wedge pattern and it should break up. Already one can sense the strong move from the bottom and this should continue to break up and move further.
MCX Silver Will Touch 68000?Volume accumulation is confirming a downtrend. Here, the price is in a downtrend. But if you look for the short-term, silver price has started rising nearby the retracement value of 0.382. We may see a bullish reversal from the 0.236 value for 0.382 to 0.5.
MCX silver futures prices may hike to the levels of 66000 - 66600 - 67000 - 68000 .
Overall, a clear trend will identify after moving averages crossover.
silver Flag or Bounce Back ??we caputre 1:3 on silver earlier.
now again silver is on move on key level whats ur interpretation.
LEARN TO EARN.
Silver - Near strong support zoneExplained . . . :)
One can expect the price to come back to the day support before moving up.
SILVERWill it take support near 25$ ? Only time will tell. If it is taking support there then it will be sweet buy point for target of 27++
flag pattern with reverse RSIqueries are welcomed.
feel free to message.
desclaimer : only for educational purpose.
on watch list for entry triangle formation
eyes on break above 67600
can open space for new buy side
on radar
disclaimer - trade @ own risk
1670-1690 is a strong buy zoneWhy am I so confident of 1670-90 zone..,
the same zone gave support 5 times earlier and it is the 6th visit to same zone..,
It is the zone from where 400 dollar or 25 percent upside rally started..,
And it is the zone of inverted head and shoulder breakout,,
Expected Road map - 1680-1758 - 1698 - 1815- 1768 - 1868 (channel top)
Buy the dips and keep accumulating..,
Stop on closure below 1670.., Below 1670.., 1530-60 zone possible..,
SilverIf 25$ is sustain we can go up. In other case we will touch 22$ and then bounce back. Time will tell.
