SILVER ENCODED CALCULATIONSsilver most likely will drop after reaching the levels
if we see more further upside i will update as of now looking at drop
sooner or later ..just mark the calculated zones and trade
CFDSILVER.USD.50.CFDSI trade ideas
CAN WE SEE AGAIN A FALL IN SILVER??TRENDS:-
DAILY-BEARISH
4H-BEARISH
1H-BEARISH
NOW LET'S TALK ABOUT THE CONFLUENCES
1.XAGUSD HAD GIVEN A BREAKDOWN FROM AN IMPORTANT SUPPORT AREA 25.68 BO I EXPECT IT TO RETEST THAT REGION AND FACE A RESISTANCE
2.WE HAD ALSO GOT A ORDERBLOCK IN 4H TF WHICH CAN BE DEPICTED AS A SUPPLY
3.WE ALSO GETS A CONFLUENCE OF 0.5-0.618 FIBBO RETRACMENT
Silver and uranium looking bullish for this decadeSilver is forming 40 years long cup and handle which is looking very bullish and I think silver will perform very well in this decade
Silver Eyeing $40Multiple reasons to be bullish in Silver at this point of time:
Simple technicals:
1. A pennant formation.
2. Positive reversal where RSI forming lower low while price making higher low suggesting a fresh high can be seen in the instrument.
3. Trading at lower end of the consolidation and higher highs and higher lows formations in smaller time frames.
From Elliott wave perspective:
The formation seems to be panning out in a zig-zag structure at this point of time. And, if wave A equates wave B, the commodity will target $40-$44 range which, generally, is the case in a zig-zag structure.
Invalidation of immediate rally confirms below $23.78.
Silver: A great buying opportunity! Silver is now on its way to first support lrvrl and here some very good chances that it may come strongly in upward direction.,
Silver Daily chart spot levelsPlease let me know what you think on this chart ..... if key level breaks it's a good option for short
Silver-Head & Shoulder pattern
-High of $ 30 tested in Feb but could not conquer.
-Black trendline from last Oct could be the last saviour.
Though I doubt that because eGold is also showing signs of short term bearishness.
T A R G E T : $ 19 (Dec 2021)
💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support of 23.75, a resumption of an uptrend is expected.
We make sure when the resistance at 28.75 breaks.
If the support at 23.75 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
The symmetrical triangle is taking shape, and as a continuation pattern suggests, we will soon see another leg higher if the price breaks and closes above the downtrend line of the triangle.
While the RSI resistance #1 at 48 is not broken, the probability of price increase would be too low.
A peak is formed in the daily chart at 26.75 on 07/06/2021, so more losses to support(s) 24.50 and minimum to Major Support (23.75) are expected.
Price is below WEMA21; if the price rises more, this line can act as dynamic resistance against more gains.
The relative strength index ( RSI ) is 39.
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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XAGUSD Cup and Handle Pattern BreakdownIn the Daily Timeframe the Price Action Pattern show a cup and handle pattern which make a move to down side.
If the price goes below and close a bearish candle form which means the confirmation for price goes down.
SilverIt has been lacklustre since touching the high of $ 30 a year back. It traded in the 22-30 for a year.
With a decisive break of the 200DMA on Friday at $25.7, it would have given sleepless weekend nights to the Silver Bulls.
The GANN Fan lines and Speed resistance lines are also not signaling any smooth up-move in the near term.
Silver Higher timeframe Price action setup.In Weekly, Forming Ascending triangle pattern.. trade in the direction of breakout..
In daily, currently inside a channel..
Think and trade in probability..
Inverse head and shoulders and possible BO from traingleSilver is almost finishing up with the formation of right shoulder and at the same time looks all set to break out from the triangular pattern.
SILVER VIEW Silver right now in consolidation phase and at strong support zone important levels r marked on the chart . Right now we can buy for $29 and $32 in short term if price remain above 200 day EMA (Can be use as SL) .
Expecting Pull back from the current level as we have already seen demand in past at current level .
SILVER TREND ANALYSISSILVER taking support around $25.8 .... likely to remain range bound for a short period of time ...!!
$silver wyckoff Distribution patternSilver forming wyckoff distribution pattern , imo it completed phase A and B , to start phase C it needs to toch or break previous support line . I use fib time zone to place the phase C ,D region .
In other case if phase C already started , it breaks previous resistent and fall down.
💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support of 23.75, a resumption of an uptrend is expected.
We make sure when the resistance at 28.75 breaks.
If the support at 23.75 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
The symmetrical triangle is taking shape, and as a continuation pattern suggests, we will soon see another leg higher if the price breaks and closes above the downtrend line of the triangle.
A trough is formed in the daily chart at 25.50 on 06/29/2021, so more gains to resistance(s) 26.60, 28.30, and maximum to Major Resistance (28.75) is expected.
Price is below WEMA21; if the price rises more, this line can act as dynamic resistance against more gains.
The relative strength index ( RSI ) is 47.
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 23.75, a resumption of the uptrend is expected.
We make sure when the resistance at 28.75 breaks.
If the support at 23.75 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
The symmetrical triangle is taking shape. As a continuation pattern suggests, we will soon see another leg higher if the price breaks and closes above the downtrend line of the triangle.
The RSI support #1 at 48 is broken, so the probability of the resumption of the uptrend is decreased.
A peak is formed in the daily chart at 28.55 on 06/ 01 /2021, so more losses to support(s) 25.75, 24.50, and minimum to Major Support (23.75) is expected.
Price is below WEMA21. If the price rises more, this line can act as dynamic resistance against more gains.
The relative strength index ( RSI ) is 31.
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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. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
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Trade well, ❤️
ForecastCity English Support Team ❤️
