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Silver - the news is out, is it absorbed in the prices ?Silver moving in a flag pattern, in on the lower point of the channel. If the channel is broken on the downside, a slide upto 16.82 can be expected. It has been correcting for some time, there is a possibility that after all the news flow, the short positions will start to unwind and push the prices higher. Since my ideas can be seen in India only, by the time our exchanges will open, prices will probably settle down. 16.80 is an important support while a breach of 17.8 will aid the bulls to push the prices higher.
TVC:SILVERLong
by ipuneet
Silver is at Make or Break Point.Silver has been correctly sharply for past 3 days, at the moment (17.46) it is at a make or break level. If it slides further, it may touch 16.8 followed by 16.2 levels. Technical indicators are showing weakness at this stage (27-09-19). Traders taking short positions must exercise caution and keep monitoring charts for trend reversal. 18.04 on the upside will change the trend upwards. It is probably reacting to news of US China trade talk resumption, but there are enough of news flow that can keep the prices higher. Please consider liking this chart or follow me on this forum if you find it worthy.
TVC:SILVERShort
by ipuneet
Trend-lines on Silver daily charts indicating a reversal. Silver was seen attempting to re-enter the trend lines channel, after a few days of consilidation. It did respected the doji that was formed day before yesterday. RSI 21 also appears to honor support of 50 as it as reversed from there several times. CCI indicator too is indicating a reversal from lower band of range (-70 to -80). Chances of an upside from these levels are strong. Beyond technical, the much awaited correction followed by consolidation is probably over, the news flow is neutral to positive and argue for a gradual recovery. Any positive news flow can force the short positions to cover and push the prices higher at a much faster pace. 17.40 should be the STOP LOSS for all long positions.
TVC:SILVERLong
by ipuneet
A throwback cannot be ruled out in Silver before LT Bullish TgtSilver is giving a good run up after breakout in July 2019 & is expected to continue this bullish trend in long term but a throwback cannot be ruled out in short term as both RSI & Stochastic are in overbought zone & can turn bearish soon as can be seen in the chart. On the upside $18.21 can act as an immediate resistance followed by $18.64 & $18.99. Thus, for short term Silver can be sold on market or on some rise towards $18 with a protective stop loss above $19 for a target of $15 . On the downside $14.75 to $15.00 range can prove as a good support & thus a good buying range for long term target of $22.94 .
FX_IDC:XAGUSD
by SureShotWInner