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Silver

SILVER Weekly Technical Analysis UpdateMidterm forecast: . While the price is above the support 16.50, resumption of uptrend is expected. . We make sure when the resistance at 18.95 breaks. . If the support at 16.50 is broken, the short-term forecast -resumption of uptrend- will be invalid. . We will close our open trades, if the Midterm level 16.50 is broken. Technical analysis: . While the RSI support #1 at 45 is not broken, the probability of price decrease would be too low. . A trough is formed in daily chart at 17.35 on 06/24/2020, so more gains maximum to Major Resistance (18.95) 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 67.
FOREXCOM:XAGUSDLong
by ForecastCity_ME
6
A Second Chance to Buy in XAGUSD …New trading suggestion: * The price is in a range bound and we forecast the uptrend would resume. * There is still a possibility of temporary retracement to suggested support line (16.50). if so, traders can set orders based on Price Action and expect to reach short-term targets. * If you missed our first HUNT, you have a second chance to buy above the suggested support line (16.50). Midterm forecast: . While the price is above the support 16.50, resumption of uptrend is expected. . We make sure when the resistance at 18.35 breaks. . If the support at 16.50 is broken, the short-term forecast -resumption of uptrend- will be invalid. . We will close our open trades, if the Midterm level 16.50 is broken. Technical analysis: . The symmetrical triangle taking shape and as a continuation pattern suggests we will soon see another leg higher if price breaks and closes above the downtrend line of the triangle. . While the RSI support #1 at 45 is not broken, the probability of price decrease would be too low. . A peak is formed in daily chart at 18.35 on 06/01/2020, so more losses to support(s) 17.50, 16.50 and minimum to Major Support (16.50) 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.
FOREXCOM:XAGUSDLong
by ForecastCity_EU
6
A second Chance to Buy in XAGUSD...New trading suggestion: * The price is in a range bound and we forecast the uptrend would resume. * There is still a possibility of temporary retracement to suggested support line (15.85). if so, traders can set orders based on Price Action and expect to reach short-term targets. * If you missed our first HUNT, you have a second chance to buy above the suggested support line (15.85). Midterm forecast: . While the price is above the support 15.85, resumption of uptrend is expected. . We make sure when the resistance at 18.35 breaks. . If the support at 15.85 is broken, the short-term forecast -resumption of uptrend- will be invalid. . We will close our open trades, if the Midterm level 15.85 is broken. Technical analysis: . The symmetrical triangle taking shape and as a continuation pattern suggests we will soon see another leg higher if price breaks and closes above the downtrend line of the triangle. . While the RSI support #1 at 45 is not broken, the probability of price decrease would be too low. . A peak is formed in daily chart at 18.35 on 06/01/2020, so more losses to support(s) 17.50, 16.50 and minimum to Major Support (15.85) 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 57.
FOREXCOM:XAGUSDLong
by ForecastCity_EU
16
SILVER - KEY LEVELS Hi, today we are going to talk about SILVER and its current landscape. We can observe at this timeframe, a confluence of technical factors, that entail a setup which might drive this asset to a new movement. The details of our analysis are highlighted in the chart above. Want to know more about our trades and ideas? Join the Traders Heaven today. Thank you for reading and leave your comments if you like. To have access to our exclusive contents, and see more of our work, join the Traders Heaven today! Link Below. Disclaimer: All content of Golden Dragon has only educational and informational purposes, and never should be used or take it as financial advice. Join the discussion
OANDA:XAGUSD
by Igor-Silva