Is #Silver headed for an upside breakoutThe chart shows an interpretation of the year and half long sideways move in SILVER. This has all the characteristics of a triangle that is headed for an upside break.
Wave E may be slightly short, so may have some more lower go, but that is not necessary. In any case a break of the upper trendline B-D should indicate a powerful upmove will begin.
This has been a long winding sideways move so the direction of breakout may be sustained move in that direction. Probability is now to the upside, but it will be wise to jump in only on confirmation
XAG USD (Silver / US Dollar)
silver a fight between bulls and bears ... a fught between bulls and bears over the upper trendline of the downfall
my personal view since 4 years is that silver has to reach 1 00 000 rs per kilogram ...
the outcome for this fight might be anything as of now , but it is surely hitting the skies ....
Currently the downtrend is being tested and prices are sustaining around the trendline ...
I guess this month of June 2021 might be choppy and sideways in nature ....
will keep updated ..
Our premium traders are given trades no matter what the condition is .
💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
25.75 is a major support, while this level is not broken, the Midterm wave will be uptrend.
We will close our open trades, if the Midterm level 25.75 is broken.
Technical analysis:
While the RSI support #1 at 48 is not broken, the probability of price decrease would be too low.
A peak is formed in daily chart at 28.55 on 06/ 01 /2021, so more losses to support(s) 26.60 and minimum to Major Support (25.75) 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 55.
Take Profits:
TP1= 25.75
TP2= 26.60
TP3= 28.30
TP4= 29.85
TP5= 33.45
TP6= 37.50
TP7= 44.20
TP8= 49.80
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💡SILVER (XAGUSD) - Weekly Technical Analysis Update
Midterm forecast:
25.75 is a major support, while this level is not broken, the Midterm wave will be uptrend.
We will close our open trades, if the Midterm level 25.75 is broken.
Technical analysis:
A peak is formed in daily chart at 28.75 on 05/18/2021, so more losses to support(s) 26.60 and minimum to Major Support (25.75) 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.
Take Profits:
TP1= 25.75
TP2= 26.60
TP3= 28.30
TP4= 29.85
TP5= 33.45
TP6= 37.50
TP7= 44.20
TP8= 49.80
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💡SILVER (XAGUSD) - Weekly Technical Analysis Update
Midterm forecast:
25.75 is a major support, while this level is not broken, the Midterm wave will be uptrend.
We will close our open trades, if the Midterm level 25.75 is broken.
Technical analysis:
A trough is formed in daily chart at 23.75 on 03/31/2021, so more gains to resistance(s) 28.30, 29.85, 33.45 and more heights 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 64.
Take Profits:
TP1 @ 25.75
TP2 @ 26.60
TP3 @ 28.30
TP4 @ 29.85
TP5 @ 33.45
TP6 @ 37.50
TP7 @ 44.20
TP8 @ 49.80
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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 29.85 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 25.88 on 02/04/2021, so more gains to resistance(s) 27.40, 28.45 and maximum to Major Resistance (29.85) 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.
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💡Don't miss the great buy opportunity in SILVERMidterm forecast:
While the price is above the support 21.90, resumption of uptrend is expected.
We make sure when the resistance at 27.40 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 23.95 on 01/18/2021, so more gains maximum to Major Resistance (27.40) 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 62.
Trade Setup:
We opened 8 BUY trade(s) @ 24.93 based on 'Hammer' entry method at 2021.01.18.
Total Profit: 1584 point
Closed trade(s): 354 point Profit
Open trade(s): 1230 point Profit
Closed Profit:
TP1 @ 26.00 touched at 2021.01.21 with 107 point Profit.
TP2 @ 27.40 touched at 2021.01.29 with 247 point Profit.
107 + 247 = 354 point
Open Profit:
Profit for one trade is 26.98(current price) - 24.93(open price) = 205 point
6 trade(s) still open, therefore total profit for open trade(s) is 205 x 6 = 1230 point
Take Profits:
TP1 @ 26.00
TP2 @ 27.40
TP3 @ 28.45
TP4 @ 29.85
TP5 @ 31.25
TP6 @ 32.45
TP7 @ 33.45
TP8 Free
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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 27.40 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.
While the RSI uptrend #2 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 23.55 on 12/11/2020, so more gains maximum to Major Resistance (27.40) 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 62.
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#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 (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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#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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