đź’ˇSILVER (XAGUSD) - Weekly Technical Analysis Update
Updated
Midterm forecast:
While the price is above the support 17.520, beginning of uptrend is expected.
We make sure when the resistance at 21.200 breaks.
If the support at 17.520 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 18.080 on 10/14/2022, so more gains maximum to Major Resistance (21.200) 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:
19.939
20.621
21.200
22.417
24.129
25.986
26.940
28.304
29.850
37.500
44.200
49.800
60.000
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the đź‘Ť LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your support is very much 🙏 appreciated!❤️
đź’Ž 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 ❤️
While the price is above the support 17.520, beginning of uptrend is expected.
We make sure when the resistance at 21.200 breaks.
If the support at 17.520 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 18.080 on 10/14/2022, so more gains maximum to Major Resistance (21.200) 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:
19.939
20.621
21.200
22.417
24.129
25.986
26.940
28.304
29.850
37.500
44.200
49.800
60.000
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the đź‘Ť LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your support is very much 🙏 appreciated!❤️
đź’Ž 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 ❤️
Trade active
2802 pips profit...Total Profit: 2802
Closed trade(s): 338 Profit
Open trade(s): 2464 Profit
Update Details:
Closed Profit:
TP1 @ 19.939 touched at 2022-11-04 with 48 point Profit.
TP2 @ 20.621 touched at 2022-11-04 with 116 point Profit.
TP3 @ 21.200 touched at 2022-11-08 with 174 point Profit.
48 + 116 + 174 = 338 point
Open Profit:
Profit for one BUY trade is 21.7(current price) - 19.457(open price) = 224 point
11 trade(s) still open, therefore total profit for open trade(s) is 224 x 11 = 2464 point
All SLs moved to Break-even point.
Take Profit:
TP4= @ 22.417
TP5= @ 24.129
TP6= @ 25.986
TP7= @ 26.940
TP8= @ 28.304
TP9= @ 29.850
TP10= @ 37.500
TP11= @ 44.200
TP12= @ 49.800
TP13= @ 60.000
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.