SILVER trade ideas
💡SILVER (XAGUSD) - Weekly Technical Analysis Update
Midterm forecast:
25.75 is a major support, while this level is not broken, the Midterm wave will be uptrend.
We will close our open trades, if the Midterm level 25.75 is broken.
Technical analysis:
A trough is formed in daily chart at 23.75 on 03/31/2021, so more gains to resistance(s) 28.30, 29.85, 33.45 and more heights 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 64.
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
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex trader?
Now, It's your turn!
Be sure to leave a comment let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
Silver lies at top of the Channel likely to move downSilver lies at top of the Channel likely to move down, trade with Discipline sell only when price breaks 27.170 and if price sustain below 27.170 likely to move towards 26.500 levels.
Silver - Long - Short Term (~4 days)Possible break out in Silver towards the $26 level, can move further based on volumes over the next 2 days. Depreciation in dollar should add to the momentum however rising bond yields may cause rough waters.
Target 1 - ~$26
Targer 2 - $26.45
Entry: Once the resistance at ~26.53 is taken out with decent volumes, and then possibly retested.
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.