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CFDs on Silver (US$ / OZ)CFDs on Silver (US$ / OZ)CFDs on Silver (US$ / OZ)

CFDs on Silver (US$ / OZ)

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SILVER trade ideas

Technical Analysis: Silver stays en route $23.00Although oversold RSI joined 50% Fibonacci retracement (Fibo.) of September-November upside to challenge the silver bears during the early week, a sustained trading below the 200-SMA and a two-month-old support line hints at the commodity’s weakness. The failure to cross the previous support convergence, now resistance around $24.00, joins bearish MACD signals to direct the bright metal towards a seven-week-old horizontal area surrounding $23.00. However, any further downside will make the quote vulnerable to mark a plunge towards 78.6% Fibo. level near $22.20. On the contrary, a clear run-up beyond the support-turned-resistance near $24.00 should fuel the bids targeting a confluence of October 25-26 swing high and November 19 swing low close to $24.60. During the silver bull’s dominance past $24.60, the $25.00 threshold may act as an intermediate halt before challenging the monthly peak, also the highest since August, surrounding $25.40. To sum up, silver buyers have a long way to retake controls.
OANDA:XAGUSDShort
by MTradingGlobal
SILVER Trading Plan - 24/Oct/2021Hello Traders, Hope you all are doing good!! I expect silver to go down after the correction. Look for your SELL setups. Please follow me and like if you agree or this idea helps you out in your trading plan. Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea
OANDA:XAGUSDShort
by For3xScalper