SILVER- Inverted Head and Shoulders Breakout BUY!Attached: XAGUSD Daily Chart as of 17th March 2023
Price closed up 4.20% on Friday with a Bullish Marubozu Candle
At the same time also triggering a Bullish Inverted Head & Shoulder Pattern Breakout
Action Plan as follows:
Buy triggered with Friday's Closing✅
Stop Loss⚠️ below 21.25
Upside Target🎯= 25 + (which is also the measured move of the IHNS Pattern)
Silver has to catch up📈 with Gold as the Precious Metals Bull Run unfolds amidst a Banking Crisis, High Inflation and Rising Interest Rates
Silver
Silver May Futures #Intraday6-Apr 7:47 PM
Silver May Futures #Intraday
Sell at CMP- 74105
Stop loss - 74460
Target- As par strategy indicates
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Charts and views are only for educational purpose.
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SILVER- Relative Strength says Buy!XAGUSD
Another Bullish Signal for Silver🥈
Attached: XAGUSD/ Nifty 50 Weekly Chart as of 31st March 2023
- This Relative Strength Chart indicates that the Outperformance of Silver over Equity (Nifty 50) has started 📈
-It is similar to the Signal on Gold🥇 that I had shared on New Year's Day and you can see how fabulously well that Gold Buy Signal played out for us ‼️
- Expect the same for Silver as I have been saying that Silver has to catch up with Gold
So if Not Already in Silver,
Get In As Soon As Possible or you will miss the Move 🚀!
Note:
In my previous post on Silver, I highlighted an Inverted Head & Shoulder Breakout BUY SIGNAL
Since that post, Silver is up 6.60% and counting....
Silver on weekly resistance Silver on weekly resistance comex chart , looks for retrace on forthcoming weeks
Silver possible Elliot wave counts (Now down and then Up)Silver is now ready to dip down and to unfold wave 5 of (C)
and as per equality, Target of (C) equal to (A) is pegged at 19.963 and 1.618 is pegged at $ 18.350,
which can be stop loss for fresh long positions to be made below $ 20.
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Head and Shoulders top in SilverSilver (XAGUSD) has formed a head and shoulders type rounding top on the 4h time frame. The price is still at the supply line. A breakdown below this line would be bearish for the commodity with measured move target of 21.75.
Price action at 23.15 to 23.50 zone is critical and would decide the next course of action.
SILVER CHART ANALYSIS 12/02/2023SILVER market is in bearish trend
and it taken out inducement and 1st order block is owrking and it give somereaction but if market goes higher high and tap on ENG LQD and sweep it then shift to 1 min time frame for confirmation and take entry.
if market close above ENG LQD then wait for tap on extrrem OB then check confirmation at lower time frame and take entry and target is market low at 15 min structure
BIG UPSIDE RALLY CAN POSSIBLE IN SILVER UPTO $29 - $33 IN MARCHAs per Elliott Wave Analysis , Big upside rally can possible in SILVER . On daily timeframe, waves 1,2,3 & 4 are completed. Wave 2 retraced more than 61.8% of wave 1 & shows Irregular Correction. Wave 4 retraced 38.2% of Wave 3 & shows Complex Correction ( Triple Zigzag Correction). Wave 3 is extended wave. Now, regular targets of 5th wave shall be $25.16, $25.95 & $27 . But, 5th wave having potential to make overall structure of "Double Extension Impulse Pattern ". If 5th wave makes overall structure of "Double Extension Impulse pattern" then the targets shall be very high upto $29.47 or $33 & these targets should come till March month end . This might sounds irrational at this time but it can happen according to Elliott Wave Analysis .
Silver lost 2700 Rupee from top Silver prices corrected after prices rallied on the news that India raised total taxes on silver imports 15% and on silver dore to 14.35%, the government said in a statement on Wednesday, in an effort to align the duty structure of the metal with gold. - The euro dipped against the dollar on Thursday after the European Central Bank (ECB) hiked interest rates by a widely expected 50 basis points and offered no new hawkish surprises, while the Bank of England (BofE) adopted a more dovish tone on inflation.
Silver UP move after completing 3 Waves CorrectionOn Weekly Basis:
Silver completed its correction from USD 12 to 29 in its Grand Wave. There is a support at 23.35 and 22.15 on weekly charts. Grand Correction Wave A, B and C is over in Silver which started in August 2021. B Wave got over in Feb'22 and C Wave got over in August,22. One can be cautiously optimistic and it provides a good choice to buy at 23 or current level with a target of 34 which becomes a strong buy from long term point of view. There is a golden cross over at 200 DMA, happened in December'22. It has come out of oversold position to neutral zone. RSI was deeply oversold in July'22 before showing the signs of bottoming out in October'22. Now it has broken the downward trendline and correcting sideways at 23.50 to 24.50 levels.
Warning and Disclaimer:
Above prediction should not be taken as financial advise, it is a personal opinion.
Consult your financial advisor.
Investment is subject to market risks.
Past performance is not the guarantee for future performance.
It is for educational purpose only.