just an update that silver is at trend line plane according to it
Midterm forecast: While the price is above the support 21.90, resumption of uptrend is expected. We make sure when the resistance at 26.00 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...
Midterm forecast: While the price is above the support 21.90, resumption of uptrend is expected. We make sure when the resistance at 26.00 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...
Midterm forecast: While the price is above the support 22.15, resumption of uptrend is expected. We make sure when the resistance at 26.00 breaks. If the support at 22.15 is broken, the short-term forecast -resumption of uptrend- will be invalid. Technical analysis: The Rising Wedge taking shape and as a bearish pattern suggests we will soon see another leg...
The the move down is not very clear as impulse in the early part, it is looking more so. Silver now looks like its all set to head to go below Sep Lows
Silver spurt up in Wave C to complete Wave Y as indicated few hours back. This now seems to have reached the minimum corrective move. If the correction is complete, then we should head down in a large move making new lows. For now a move below 24.20 , the wave B low should confirm the down move has started. An earlier entry may be possible, will see how this...
Silver has been moving sideways for few days and this recent move looks like a Wave B which should now resolve with a Wac c to complete the larger Y. The larger trend remains down so this will help us get better prices to go short
Silver's recent upward to sideways can be counted as an incomplete WXY Flat. Subdivisions of Wave Y is in its final stages. An upmove to the 24.60 -24.80 should complete the rally . The larger downtrend should then resume.
Short Silver Below 24.27 Target 23.87 Target 23.32 Stoploss 24.47
Short Silver Below 24.17 Target 23.87 Target 23.32
Midterm forecast: While the price is above the support 22.15, resumption of uptrend is expected. We make sure when the resistance at 26.20 breaks. If the support at 22.15 is broken, the short-term forecast -resumption of uptrend- will be invalid. Technical analysis: The RSI resistance #1 at 56 is broken, so the probability of resumption of uptrend is...
Price breaks the trend line as expected and one can expect a retest before moving big. If you find my analysis helpful . . . . . Please show your support by hitting 👍 LIKE button, Your Support is very much 🙏 appreciated!
Entry 25.26 Stoploss 25.08 Target 26.08
The downside break in prices is a possible opening for the re-entry on the downside. Watch for the risk level to hold. If prices do not re-enter back into the channel in the coming few hours, the downmove should sustain
Midterm forecast: While the price is below the resistance 26.20, beginning of downtrend is expected. We make sure when the support at 19.65 breaks. If the resistance at 26.20 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: The RSI downtrend #1 is broken, so the probability of beginning of downtrend is...
Silver rallied up in three waves - and has now completed and a-b-c structure. The fall in the last 30 mins could accelerate and take the issue to new lows. Watch the indicated risk level for exits if caught on the wrong side.
As per ABCD pattern, we have formed an intermediate top in the 24.80-24.90 region. One can positionally short with a SL above 25.01 for a target of 22.90-22.80