up trendIndication of an upward trend. Additional supply growth can be achieved if demand for precious metals increases.
Trade ideas
Price consolidating at key areaPrice consolidating in the key area. looking relevant Price Action Bar to jump into trade. I am more preferring the short.
Let's see....
Silver : Make or Break Level 13.5Price of silver had an upside breakout but failed to reach it's target 26.00
Coming of price aging in triangle pattern is very risky for long position.
A very grim situation may arise in silver if it breaks down 13.5 level.
Exxxxxxxxit all long below this.
SilverWill $13-14 act as buying zone ? Will silver rise when global economic predictions are for recession ?
Breaking down from multiple trendlinesSilver has broken out of medium term trend (line) and done retesting as shown in 2nd chart
If we short it now the target would be long term trendline shown in 3rd chart
Silver might go to 75000!!!!!Here is a long term analysis of silver, it might be ready to fly to a target of 42 dollers in the coming months, it is in the bulg of explosion.
XAGUSD (Silver/USD)Beautiful setup on Weekly. New rally more likely provided it holds key level mentioned in the chart.
silver - 18.442 should hold for the bulls. 18.442 lies on a trendline that has supported XAGUSD multiple times, since Feb 17-18.
A break below this level can initiate selling or correction in overbought markets.
Targets on the downside can be, 18.41 - 18.31 - 18.22 - 18.19.
18.56 can be used as S.Loss for short positions.
Momentum is strong sofar, 18.41 or corresponding level can be used as a stop for long side positions too.
Don't miss the great buy opportunity in XAGUSDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (17.87). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. SILVER/U.S. DOLLAR is in a range bound and the resumption of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 59.
Take Profits:
TP1= @ 18.33
TP2= @ 18.73
TP3= @ 19.65
SL= Break below S2
Silver / XAGUSD - TrendLine Breakout Silver and gold have been running in positive territory for past one week, it gave a trendline breakout some time back.
Uptrend can be expected as long as Coronavirus worries are impacting markets.
Silver fall coming soonSilver rallies look like fake and could fall steeply if it fails to rise above $18.5 in near short term. This is the same time some videos were published by Robert Kiyosaki on May 22nd, 2019 where he believes silver will go up. There are many other people propagating the same ideas trying to boost up silver which actually happened but failed to go past $18.5 or sustain above $18.1 many times in the last 7 months. I see a serious fall if it fails to rise above the $18.5 levels with people holding it liquidating positions soon. See the video on youtube search for Why Robert Kiyosaki buys Gold and Silver -Robert Kiyosaki and see the date of posting.
SILVERMonthly chart is in Tiger Shroff mode "Abhi to maine start kiya hai!" Sustaining above $19.40 will explode for $23-25. Else will consolidate between $ 19-17 for sometime before resuming this uptrend.
Don't miss the great buy opportunity in XAGUSDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (17.45). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. XAGUSD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 70.
Take Profits:
TP1= @ 18.17
TP2= @ 18.70
TP3= @ 19.63
SL= Break below S2
SilverSilver after reversing from a bullish Harmonic Gartley is retesting the PRZ which now coincides with the PRZ of two Bullish AB=CD patterns (60/162) & (78/127) If it can sustain above 16.35 then it could retest 17.40/17.75
Next Move One can look for one more small move with in the structure , Once it completes its corrective nature it will make high likely up to 21.00 +
Silver basically its in side ways pattern form Quite Years , Expect to be with in the range of 21 as top and 13.7 as bottom ,
for your personal understanding you can have a look on weekly time frame and you will understand the same
