Silveranalysis
Long XAG/USDXAG/USD Is approaching a very strong pivot level. This level has been tested several times in the past and as we can see on the chart it has been acting as support and resistance both. With the silver having a very sharp fall it is very likely that this level will act as a support, and there can be mean reversion after the extended fall that we have seen in the commodity.
Silver Important levels ! Silver important short term levels are plotted in the chart.
currently silver is trading in the major support zone after a sharp fall in todays session. It is expected that it may bounce back and probable targets on upside are marked in red dashed line.
in case silver manages to close below the support zone, allow 15 minute candle to close it below the level and short for the target marked in green dashed line.
Disclaimer: This is just a view only for educational purpose.
Silver Demand and Supply zones !Silver actionable demand and supply zones are marked in the chart above.
Generally price may reject from supply zone and price may bounce back from demand zones. In case price breaks out or breaks down the zones then we may see the strong price momentum on either side.
Do your research before placing any trade.
a short explanation on the commodities and setupsA short video on the gold and silver after the fall yesterday and looking at the longer term time frame to understand the key levels. Gold has been the worst performer while the rest are actually looking bullish. Silver has been outperforming gold and that is something that we need to be aware of as it is also used in the industry. Overall the base metals and silver seem to be doing better than gold. The news from bank of canada increasing the rates did not sit well with the market with both gold and silver falling immediately after that. Anytime we have the yields go up the metals and other investment instruments which are assets without any yields underperform and become unattractive comparatively.
SILVER possible Elliott wave sountsHello Friends,
Here we have shared possible Elliot wave counts of SILVER 4 hourly chart in which we can say possibly we are heading towards north direction as a fresh impulse wave, which can lead towards Bullish bias as now onwards.
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.
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.