SILVER trade ideas
SILVERWill it take support near 25$ ? Only time will tell. If it is taking support there then it will be sweet buy point for target of 27++
Gold price manipulation by central banks.As we know since the gold standard was eliminated in 1971 by Richard Nixon, the US govt kept printing enormous sums of money in the form of debt. Basically Americans have been buying goods and services from India and China literally for free by printing infinite sums of USD. And since US govt has the sole right to print USD while USD is also the currency used for import/export , meaning Americans could buy anything they want from any part of the world as much they want.
Elliot wave Analysis # Bearish SequenceOANDA:XAGUSD
Complex Correction in XAGUSD
240 Mins Bar (log scale)
flag pattern with reverse RSIqueries are welcomed.
feel free to message.
desclaimer : only for educational purpose.
SilverIf 25$ is sustain we can go up. In other case we will touch 22$ and then bounce back. Time will tell.
Silver eyes yearly bottom on breaking key support confluenceSilver finally follows gold while breaking short-term support confluence near $26.30, which in turn drags it towards late January lows. Although oversold RSI on four-hour (4H) chart probes the metal sellers, a sustained break of the key support, coupled with the bearish MACD suggests further downside of the commodity prices. As a result, the $25.50 and the $25.00 may offer intermediate halts during the quote’s south-run targeting the yearly low of $24.13.
If at all the bullion regains above the previous support near $26.30, it needs to clear a downward sloping trend line from Thursday to reject the bearish hopes. Also acting as upside filters are the $27.00 round-figure and February top surrounding $28.30. Overall, silver is up for grabs should the sellers welcome the latest support break.
XAGUSD ANALYSIS BY DHANUSHKUMAR MMonthly Resistance at 27.71480
Monthly Support at 23.52408
Day support at 26.35995
In Day time frame Trend line crossing its shown in chart.
Conclusion :
Market may sideways between 27.71480 - 26.35995. If market breaks the range we can expect good movement.
SILVER- ON THE VERGE OF BULLISH BREAKOUT- 4 HOUR CHARTSilver is poised to clear resistance near 27.80 and can head toward next swing level near 30$. A move below 24.8 will negate this pattern.
💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 21.90, resumption of uptrend is expected.
We make sure when the resistance at 29.85 breaks.
If the support at 21.90 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 25.88 on 02/04/2021, so more gains to resistance(s) 27.40, 28.45 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 57.
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