#SILVER #XAGUSD - downtrend may have resumedThe first downmove that we see has clearly traced a 5 wave sequence and a 3 wave correction. this means we are headed down. Looks for new lows with 25.57 as the risk stop
XAG USD ( Silver / US Dollar)
#SILVER #XAGUSD bounced off sighted resistance Silver headed higher this morning into the indicated resistance at 25.57 and reversed right there , the down move has all the indications of a 5 wave structure and so may turnout to be a trend reversal. Updated charts will be posted soon.
Direction seems to be down to new lows if 25.57 remains intact
#SILVER #XAGUSD targeting 25.57 in Wave YSilver progressed very well as expected in Wave c of Wave Y. It should face resistance at around 25.57 where Wave Y = Wave W. This is also where the parallel trend channel tops.
We should watch price reaction at this area to understand if the trend will change downward ( most likely will, but lets listen to the price) . 25.57 is a good area for the W-X-Y corrective upward rally to terminate.
💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 19.65, resumption of uptrend is expected.
We make sure when the resistance at 26.20 breaks.
If the support at 19.65 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 resistance #2 at 64 is not broken, the probability of price increase would be too low.
A trough is formed in daily chart at 22.85 on 10/06/2020, so more gains to resistance(s) 25.65 and maximum to Major Resistance (26.20) 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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LONG #SILVER #XAGUSD consolidating in a Wave B triangle ?Silver could be ready to breakout on the upside from the sideways consolidation, this is the most likely scenario as it has taken a sideways triangle over the last few days. Looking for Wave C up now if the key support holds
$SILVER $MCXSILVER $XAGUSDSilver 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.
SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm 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 is increased.
While the RSI downtrend #2 is not broken, bearish wave in price would continue.
A peak is formed in daily chart at 28.85 on 09/01/2020, so more losses to support(s) 22.15, 21.00 and minimum to Major Support (19.65) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 31.
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#XAGUSD #SILVER headed down towards 23 and belowSilver seems to be completed wave B of the correction and sported wave 1 of C. Silver should accelerate to 23 soon
$SILVER #XAGUSD should rally from wave 4 low to new highsSilver 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 #XAGUSD may have completed its fall in wave CSilver 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
XAGUSD - Silver is Ready To Boom !!! :)Currently it is incomplete converging triangle (abcde) and completed combined (wxy) correction. . .
SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm 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 the RSI support #2 at 52 is not broken, the probability of price decrease would be too low.
A peak is formed in daily chart at 28.85 on 09/01/2020, so more losses to support(s) 26.20 and minimum to Major Support (25.65) 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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XAGUSD also known as SilverLet 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
Silver - XAGUSD, A walk through.Price retesting the previous resistance levels, if closes above the immediate high then it will definitely reaches the next resistance level 35.
Alternate path for Silver #XAGUSD #ZigzagToo many posts tracking the triangle breakout - This shows there is only a onesided view, the alternate path Silver can take is given in the red labeling - this could turn out as a A_B_C zigzag before it moves up catching the triangle watchers unaware. Be on the watchout for the alternate path for Silver. At this point traingle is under threat unless it moves up immediately
Blue labels - Triangle
Red labels - Zig Zag
Silver #XAGUSD #Elliotwave short term #15minchartLook 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 upsideSilver #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.
SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm 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 increased.
. While the RSI support #2 at 45 is not broken, the probability of price decrease would be too low.
. A trough is formed in daily chart at 26.00 on 08/21/2020, so more gains to resistance(s) 28.35 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 60.
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XAGUSD: Silver inside a 15min RangeLooking for a short entry on break below 27.085 lvls on 15 min tf on closing basis.
SILVER Weekly Technical Analysis UpdateMidterm 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.
Technical analysis:
The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
While the RSI support #2 at 45 is not broken, the probability of price decrease would be too low.
A trough is formed in daily chart at 23.39 on 08/11/2020, so more gains to resistance(s) 27.00, 28.35 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 59.
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SILVER Weekly Technical Analysis UpdateMidterm forecast:
18.95 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 18.95 is broken.
Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 17.35 on 06/24/2020, so more gains to resistance(s) 25.10, 26.20, 27.00 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 77.
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SILVER Technical Analysis UpdateMidterm forecast:
. 18.95 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 18.95 is broken.
Technical analysis:
. While the RSI uptrend #1 is not broken, bullish wave in price would continue.
. A trough is formed in daily chart at 17.35 on 06/24/2020, so more gains to resistance(s) 22.15, 23.05, 25.10 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 83.
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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.
