Silver future current month Long (Swing/Positional)Buy Above :- 67860,(Above resistance Area)
SL:- 66300 (Bellow Major support)
Targets : T1:- 68380,
T2:- 69460,
T3:- 71225...
Note:-
1. Please book your Targets near the points not at exact levels.
2. Stop loss should & must be there. Once the price level cross the T1 and sustain, you may trail your SL on entry price i.e.67860 to secure your trade.
3. Avoid making Large positions on LEAVERAGES. It is a dual bladed sword; May enhance your profit but can dig you to the great losses too.
Be alert & Happy Trading.
Educational Purpose Only
Silver
Intraday trading strategy for MCX SilverThis is MCX Silvermini 15 minutes chart. I have used here moving average, Fibonacci, DMI, and RSI.
Fib Levels: T 71496 and B 65664
Silver will try to touch 0.382 ( 67892 ) from here. It will act as resistance. Moreover, there is a 50 MA. If silver breaks both, it will fly from there and touch 68580 levels. Intraday traders can play between it.
But if it takes a U-turn from 50 MA and breaks the 20 EMA, be ready for the following targets: 67060 - 66600 .
#SILVER #XAGUSD may have peaked in Wave X todaySilver shotup today and had a volatile few mins with a wide range. This may have just completed the X Wave of the upward corrective from the late Sep Lows. X waves are generally sharp reactions. The upmove since the Sep lows is best counted as an X wave. Note the labels on the chart - nothing impulsive, overlapping and time consuming upmove. There is no impulsive structure, this strengthens the bearish case. Look for Y wave down to complete in the shaded area if today's top holds.
Silver Follow Up & Future Predictions For 2020 & 2021 – Part IHere I have used Gann fan and Fibonacci on Silver sport to identify the current trend.
Fib Retracement:
Top: $29.90
Bottom: $11.64
If silver remains above the 78.6% level, the target will be $27 - $27.8 .
And if it goes inside 8/1 or remains below 78.6% level, we will see the silver price at 0.618 value of fib retracement. The day traders can use the following levels as targets: $ 25 - $24 - $23 .
According to DMI, ADX is less than 25 but turning up. And +DI is signaling an upside rally. Technically, silver is a further advance.
For advance traders, watch significant releases or events that may affect the movement of gold, silver & crude oil.
Monday, Dec 21, 2020:
12:00 - Gold Index
Wednesday, Dec 23, 2020:
3:00 - API Weekly Crude Oil Stock
21:00 - Crude Oil Inventories, EIA Refinery Crude Runs (WoW), Crude Oil Imports, and Cushing Crude Oil Inventories
21:30: Natural Gas Storage
💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 21.90, resumption of uptrend is expected.
We make sure when the resistance at 26.00 breaks.
If the support at 21.90 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of resumption of uptrend is increased.
A trough is formed in daily chart at 23.55 on 12/11/2020, so more gains maximum to Major Resistance (26.00) 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 65.
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HOLD SILVER ABOVE 68,000 AND GO BEARISH BELOW 67,300 AS PER FIBONACCI ANALYSIS, SILVER CAN GIVE GOOD MOMENTUM IF SUSTAIN ON 68,000 LEVEL,
HOLD IF SUSTAIN ON 68
BULL TGT 69,900
BEAR TGT65,700
GO SHORT IF BREAK BELOW 67,300
Feel Free To Ask For Any Technical/Fundamental Query
Comment Down Below
EDUCATIONAL PURPOSE ONLY.
#SILVER # XAGUSD Wave C of the 2nd FLAT heading to $18Silver's recent upmove looks complete and the initial move down from 24.86 seems to be in 5 waves, indicating that the down move may have started.
If the wave count is right, we are looking for the next downleg to make its path upto $18. At this level the 2nd ABC will be equal the 1st ABC from the Aug high. This is a normal target area.
Risk level is the recent high 24.86 .
Since the move will be a long trend , one can look to reenter if the stop is taken
SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 21.90, resumption of uptrend is expected.
We make sure when the resistance at 26.00 breaks.
If the support at 21.90 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 21.90 on 11/30/2020, so more gains to resistance(s) 24.50 and maximum to Major Resistance (26.00) 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 53.
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SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 21.90, resumption of uptrend is expected.
We make sure when the resistance at 26.00 breaks.
If the support at 21.90 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 21.90 on 11/30/2020, so more gains to resistance(s) 24.50 and maximum to Major Resistance (26.00) 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 51.
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SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 22.15, resumption of uptrend is expected.
We make sure when the resistance at 26.00 breaks.
If the support at 22.15 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
The Rising Wedge taking shape and as a bearish pattern suggests we will soon see another leg lower if price breaks and closes below uptrend.
The RSI resistance #1 at 56 is broken, so the probability of resumption of uptrend is increased.
A peak is formed in daily chart at 25.99 on 11/06/2020, so more losses to support(s) 23.05 and minimum to Major Support (22.15) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 48.
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. . . . . Please show your support back,
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