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Silver - Hedging for InflationGold and Silver have both surged higher on the back of soaring US inflation and have reclaimed their status as inflation hedges after many months of not moving on Inflation data. Gold moved $40 higher and Silver $1.80 as US printed 6.2% Y/Y headline inflation for October. The Inflation debate is likely to remain for many months and each time its affirmed should help Gold and silver. We pick silver as it moves % more and has more upside if can break old resistance levels. Buying dips as long as we hold above $24 and Targeting $26 to $30 in coming days/weeks. “Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party."
EASYMARKETS:XAGUSDLong
by easyMarkets
Technical analysis update: XAUUSD (8th November 2021)XAUUSD trades just 10 USD below its short-term resistance. We will observe gold in the following days and we will look for potential strength that could elevate price above short-term resistance. In our opinion such occurence would be very bullish development for gold. Indeed, we expect it to cause resumption of uptrend in gold. Because of that we continue to be very bullish on gold and our short-term price target is 1850 USD. Our medium-term price target is 1875 USD and long-term price target is 1900 USD. Technical analysis We expect price to continue climb higher as MACD, RSI and Stochastic are all very bullish. Though, ADX contains low value which suggests that trend remains neutral at the moment. Despite that we are bullish as we expect breakout above short-term resistance and eventual resumption of uptrend. We previously showed inverted head and shoulders pattern being formed. We later stated that pattern was taking too long to form and we abandoned it. However, resistance level at 1835 did not lose any importance. It is still valid level for breakout as it coincides with short-term resistance. Support and resistance Short-term resitance sits at 1835 USD while short-term support lies at 1750 USD. Next important resistance sits at 1916 USD and then major resistance appears at 2075 USD. Major support level sits at 1676 USD. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
OANDA:XAUUSDLong
by Tradersweekly
12
SILVER (XAG/USD) – Week 43 – Pullback before continuation.In our previous analysis, we expected the price to enter a bearish phase from the resistance. Instead, the pair corrected and found more bullish momentum along the way. In the coming days, we expect Silver to reach the confluence between the trendline and the support before resuming the uptrend. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
FX_IDC:XAGUSDLong
by financialflagship
11
$XAGUSD - Goes to $26Hi guys! 👋🏻 🔔 Silver continues its uptrend since September 30, 2021 when it hit the newly lows of the year. The uptrend is backed by the FED’s tapering plan which should start in November. Despite the positive US Jobless Claims, the US Dollar index remains under pressure below the 93.7 level. 🔔 The US Dollar index is still vulnerable below the 93.7 which is a crucial resistance. The DXY chart I was posting in my previous articles still seems to be valid and the USD might drop to 92.5 - 92.4 levels to complete the expanding diagonal pattern. 🔔 As for the technical analysis, Silver on a daily chart is currently testing a resistance level formed by MA100. If XAGUSD doesn’t overtake this resistance, it might drop to $23.5 to find the next support backed by the EMA50. 🔔 RSI indicator shows signs of a correction ahead, MACD remains bullish. Hence, after a slight correction, XAGUSD may continue the uptrend up to $26 and $26.8. ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
OANDA:XAGUSDLong
by azizelliott