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Silver / U.S. DollarSilver / U.S. DollarSilver / U.S. Dollar

Silver / U.S. Dollar

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XAGUSD trade ideas

Silver Eyeing $40Multiple reasons to be bullish in Silver at this point of time: Simple technicals: 1. A pennant formation. 2. Positive reversal where RSI forming lower low while price making higher low suggesting a fresh high can be seen in the instrument. 3. Trading at lower end of the consolidation and higher highs and higher lows formations in smaller time frames. From Elliott wave perspective: The formation seems to be panning out in a zig-zag structure at this point of time. And, if wave A equates wave B, the commodity will target $40-$44 range which, generally, is the case in a zig-zag structure. Invalidation of immediate rally confirms below $23.78.
OANDA:XAGUSDLong
by aditya.thukral423
2
💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast: While the price is above the support of 23.75, a resumption of an uptrend is expected. We make sure when the resistance at 28.75 breaks. If the support at 23.75 is broken, the short-term forecast -resumption of uptrend- will be invalid. Technical analysis: The symmetrical triangle is taking shape, and as a continuation pattern suggests, we will soon see another leg higher if the price breaks and closes above the downtrend line of the triangle. While the RSI resistance #1 at 48 is not broken, the probability of price increase would be too low. A peak is formed in the daily chart at 26.75 on 07/06/2021, so more losses to support(s) 24.50 and minimum to Major Support (23.75) are expected. Price is below WEMA21; if the price rises more, this line can act as dynamic resistance against more gains. The relative strength index ( RSI ) is 39. 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 / Crypto 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 ❤️
FOREXCOM:XAGUSDLong
by ForecastCity_ME
4
💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast: While the price is above the support of 23.75, a resumption of an uptrend is expected. We make sure when the resistance at 28.75 breaks. If the support at 23.75 is broken, the short-term forecast -resumption of uptrend- will be invalid. Technical analysis: The symmetrical triangle is taking shape, and as a continuation pattern suggests, we will soon see another leg higher if the price breaks and closes above the downtrend line of the triangle. A trough is formed in the daily chart at 25.50 on 06/29/2021, so more gains to resistance(s) 26.60, 28.30, and maximum to Major Resistance (28.75) is expected. Price is below WEMA21; if the price rises more, this line can act as dynamic resistance against more gains. The relative strength index ( RSI ) is 47. 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 / Crypto 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 ❤️
FOREXCOM:XAGUSDLong
by ForecastCity_ME
7
💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast: While the price is above the support 23.75, a resumption of the uptrend is expected. We make sure when the resistance at 28.75 breaks. If the support at 23.75 is broken, the short-term forecast -resumption of uptrend- will be invalid. Technical analysis: The symmetrical triangle is taking shape. As a continuation pattern suggests, we will soon see another leg higher if the price breaks and closes above the downtrend line of the triangle. The RSI support #1 at 48 is broken, so the probability of the resumption of the uptrend is decreased. A peak is formed in the daily chart at 28.55 on 06/ 01 /2021, so more losses to support(s) 25.75, 24.50, and minimum to Major Support (23.75) is expected. Price is below WEMA21. If the price rises more, this line can act as dynamic resistance against more gains. The relative strength index ( RSI ) is 31. 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 / Crypto 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 ❤️
FOREXCOM:XAGUSDLong
by ForecastCity_ME
8