Silver / U.S. Dollar
Silver With Declining Weekly Volumes / Bullish COT Reports / Sweet Channel and Horizontal Support ALL nicely lining up now. It is ready for TURNING UP ON WEEKLY charts. But as Always COT Reports and Weekly Charts Takes Time to Turn. I am taking that as 2-4 Weeks Time. Keep an Eye on Daily/240 Mins Momentum Turning UP.
Silver is Likely to Behave in Line with Gold. Read my commentary on Gold. Same applies to Silver
Description : Silver is forming a beautiful triangle as lower supports are getting tested whereas upper resistance levels are getting lower as you can see with trendline zone. Support Area : Break of Support at 21-22$ downside will lead to immediate support at 19$. Although Support are has been tested several time it breaks might see free fall. Resistance...
Silver expected to trade near $60 around 2026. Positionally long suggested. Final targets higher than $100 around 2028. Very bullish scenario.
Silver needs some patience for entry. Either on Test of Rectangular Area OR Trendline Break. Enter basis Daily Charts
SILVER FUTURES has $24.860 for support and $29.150 for resistance in August. The precious metal is still bullish if it can close above $29.15 by this month or September. Target $31.855 this year and $39 by April 2022.
Silver 4hrs chart show Sign of reversal near to support levels.
FOR EDUCATION PURPOSES ONLY HERE THE IDEA IS TO TRADE OF THE THIRD IMPLUSIVE MOVE WHICH BREAKS A RECORD RESISTANCE LEVEL WITH HIGHER VOLUME FAILED TO DO SO , THE VIEWS CAN BE CHANGED
Buy silver at cmp and in dip at 25.90 sl 25.50 target $27.36 Disc : it's not an investment advice to buy or sell
Silver may fall to $22 if breaks $25.90 Just a short term correction.
COMEX silver spot is moving sideways with the fluctuation on the 15m timeframe. It started with the descending peaks and after that made three ascending peaks. Then fall again and made a descending peak. Right now, making a descending peak again, and targets are followings $26.460 - $26.430 - $26.360 . It will make more descending peaks and fall up to $ 26.260 .
Here I have used Gann fan and Fibonacci on Silver sport to identify the current trend. Fib Retracement: Top: $29.90 Bottom: $11.64 If silver remains above the 78.6% level, the target will be $27 - $27.8 . And if it goes inside 8/1 or remains below 78.6% level, we will see the silver price at 0.618 value of fib retracement. The day traders can use...
Go for long in support and go for short in resistance. The best way is to enter is to wait for a breakout for delivery traders.
Silver is likely to find resistance around $24 and then see a mild correction towards $20. Then the bigger wave towards $27-28 will start.