Silver has moved up as suggested in the earlier post. However the 2nd upward swing from the low seems more like a C wave of a ZigZag than a 3rd wave. Unless there is immediate move above the channel line we are headed lower in the near future.
Midterm forecast: While the price is below the resistance 25.65, continuation of downtrend is expected. We make sure when the support at 19.65 breaks. If the resistance at 25.65 is broken, the short-term forecast -continuation of downtrend- will be invalid. Technical analysis: The RSI support #1 at 52 is broken, so the probability of continuation of downtrend...
Every Rise is a Sell Channel marked in Blue..... Resistances in Red..... Support in Green.......... Like .............. Follow.... Share...........
Silver testing Fibo levels again, Last was support taken on 12th Aug.
Silver seems to be completed wave B of the correction and sported wave 1 of C. Silver should accelerate to 23 soon
Silver seems to have completed its wave 4 correction, Wave C (circle) being slightly greater than Wave A (circle). This means Silver should rally to new highs in the near future.
Silver seems to have completed its 5 wave fall and should settle at this level or slightly lower before it moves up from the current levels. We are near the end of wave 4 at a primary degree and should move to new highs if it gets support at these levels
Again Same Markets heading to Congestion ZONE Excercise Caution !!! Gold performing better again than Silver
Currently it is incomplete converging triangle (abcde) and completed combined (wxy) correction. . .
Midterm forecast: While the price is above the support 25.65, resumption of uptrend is expected. We make sure when the resistance at 29.85 breaks. If the support at 25.65 is broken, the short-term forecast -resumption of uptrend- will be invalid. Technical analysis: The RSI uptrend #1 is broken, so the probability of resumption of uptrend is decreased. While...
Let the price come out of flag pattern for breakout. 238% levels in fibonacci are not available on Tradingview but silver is taking support from that level 25.6 USD. SL should be kept at 25.6 USD. Views are for educational purpose only
Price retesting the previous resistance levels, if closes above the immediate high then it will definitely reaches the next resistance level 35.
Look to get in on the dip in C wave in the next couple of hours before the upward resolution out of the triangle resumes to the upside look for the long term view in the previous tweet
Silver #XAGUSD should break out of the triangle to the upside in the next day or two. Risk level will be 26.82 A separate short term view will be published following this - watch out for it.
Midterm forecast: . While the price is below the resistance 29.85, beginning of downtrend is expected. . We make sure when the support at 19.65 breaks. . If the resistance at 29.85 is broken, the short-term forecast -beginning of downtrend- will be invalid. T echnical analysis: . The RSI uptrend #1 is broken, so the probability of beginning of downtrend is...