Silver 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
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...
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (17.80). 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.
....
Midterm forecast:
While the price is above the support 16.55, resumption of uptrend is expected.
We make sure when the resistance at 18.75 breaks.
If the support at 16.55 is broken, the short-term forecast -resumption of uptrend- will be invalid.
We will close our open trades, if the Midterm level 16.55 is broken.
Technical analysis:
The Falling Wedge taking...
A small intraday trade.. i am in it already.. already put to BE.. let's see how it goes UP as it can go up all the way or can go down from the UP arrow and make a new low.
Silver is giving a good run up after breakout in July 2019 & is expected to continue this bullish trend in long term but a throwback cannot be ruled out in short term as both RSI & Stochastic are in overbought zone & can turn bearish soon as can be seen in the chart. On the upside $18.21 can act as an immediate resistance followed by $18.64 & $18.99. Thus, for...
Midterm forecast:
16.55 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
While the RSI support #1 at 48 is not broken, the probability of price decrease would be too low.
A trough is formed in daily chart at 15.95 on 08/01/2019, so more gains to resistance(s) 17.20, 18.10 and more heights is expected.
Price...
Midterm forecast:
15.60 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
The RSI bounced from the support #1 at 48 and it prevented price from more losses.
A trough is formed in daily chart at 14.89 on 07/05/2019, so more gains to resistance(s) 17.20, 18.10 and more heights is expected.
Price is above...
Midterm forecast:
15.60 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
The RSI bounced from the support #1 at 48 and it prevented price from more losses.
A trough is formed in daily chart at 14.89 on 07/05/2019, so more gains to resistance(s) 16.20, 17.20, 18.10 and more heights is expected.
Price is...
Silver Prices have been followed for centuries. Silver (XAG) is a precious metal used in jewelry, silverware, electronics, and currency. Silver prices are widely followed in financial markets around the world. Silver has been traded for thousands of years and was once used for currency backing. Silver continues to be one of the most commonly traded commodities today. Silver prices are highly volatile due to speculation and supply and demand. Ag is the chemical symbol for silver on the periodic table of elements and its ISO currency symbol is XAG.
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