Silver
SILVER (XAGUSD) 04/02/2024Purple Box: Bearish (21.6 - 22.1p/o)
Blue Box: Bullish 1.(25 - 25.6) 2.(28 - 28.7p/o)
Bullish Scenario
Silver's a very under priced metal, I'm thinking because countries are stock piling more gold they should also be doing the same with silver...
Prise is finding or has found support above 22p/o and so a push upwards towards 25 is highly probable...
If we call our last push down a retrace, we hit 60-70%(discount?)
Bearish Scenario
There is a high probability of being bullish, but the markets the market and a fall shouldn't be ruled out...
A break below the purple box with resistance then found and a fall to 18p/o is likely... (bias change)
We could be forming an ascending triangle... So one more rejection of 25p/o and then a full pullback climb to 28p/o or passed.
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Bullish on Gold and SilverHey everyone,
I'm back with another update on Silver and Gold 🤓
A month ago I showed you how Silver and Gold might react in June and their movement wasn't too far from my expectations. Both Gold and Silver followed their seasonality direction for June (a bearish move). Now as we passed a week of July, Silver and Gold price actions suggest that they are willing to follow their seasonality pattern in July as well; if so, we will see a nice rally higher towards the upside targets I highlighted on the chart.
What will give us the confidence to stay bullish? The market remains positive on the September rate cut. For example, if the CPI number comes lower or equal to expectations this week, it can strengthen the market sentiment on a 0.25% rate cut in September.
How about the price action? Well, it's a bit tricky here, but for Silver, I can say a daily candle close above $32 and for Gold above $2432, is a strong confirmation for them to hit higher prices. Watch out for corrections these days, as they can be surprising and might be fast and sharp. But don't worry until we call these down moves a "correction" 😊. As we are bullish for the long term we see corrections as a buying opportunity 😉
What's the target? In the coming months, maybe July and August (we cannot time the market), in case of getting the above-mentioned confirmations, Silver can hit $36.4 and Gold can see $2580 and higher. Additionally, a DXY daily close below 104 would be a cherry on top of the cake.
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Silver Miners pop, down and then launchI feel a flash crash coming on, similar to Covid - wouldn't surprise me if Birdflu was the catalyst (see my NASDAQ:GILD idea). The patterns line up exactly the same. You can't see it with this picture, but tons of my indicators are going off -which I will post below. Silver Miners will exit the ascending triangle this go around as the commodity supercycle takes off. Could silver miners go a little more up then down? Absolutely, but miners are sensitive to market rallys and poundings like other stocks (see the pandemic in March 2020 on the chart).
SILVER Will Go Up! Buy!
Here is our detailed technical review for SILVER.
Time Frame: 1h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 29.039.
Taking into consideration the structure & trend analysis, I believe that the market will reach 29.405 level soon.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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#SILVER: Time for another bullish move? Comment down your views!OANDA:XAGUSD
Price is in sideways in smaller timeframe, possible price was waiting for fed decision on interest rates, however, the news came out to be mixed. It is still not (100%) clear that the price will rebound straightforward. Likely, we will see mix price actions in coming time. Good luck and trade safe.
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Team SetupsFX_
XAUUSD - 1H Bullish momentumThe XAUUSD (Gold) chart analysis shows that Gold couldn’t consolidate below the $2300 mark after multiple attempts.
Now, it’s consolidating above the $2320 zone, indicating strong support. Given this consolidation over the support zone, there’s potential for Gold to rise and break through the resistance zones.
If the bullish momentum continues, we could see Gold targeting higher resistance levels, suggesting a favorable environment for buyers in the short term. Keep an eye on the resistance zones for potential breakouts.
Silver (XAG/USD) H1 Channel BreakoutThe XAG/USD pair on the H1 timeframe presents a potential Buying opportunity due to a recent downward breakout from a well-defined channel pattern. This suggests a shift in momentum towards the Upside in the coming Hours.
Key Points:
Buy Entry : Consider entering a Long position around the current price of 29.45, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 30.35
2nd Support – 30.83
Stop-Loss: To manage risk, place a stop-loss order below 28.50. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Thank you.
Silver could be about to make a move !!Very intresting situation in the silver market right now !!
As Silver is clearing agina the 30 dollar level, it is attempting to break resitance of the downward trending channel for the 5th time in the last 50 days !!
The breakdown of the bullish expanding wedge recently could be a false move.
If Silver closes the week (which is a four day week) above the 30 level, we could be in for a big surprise.
Watch out !
WEEKLY FOREX FORECAST: DXY, INDICES, GOLD, SILVER, US OILThis is Part 1 of the Weekly Forex Forecast.
In this video, we will cover:
USD Index, S&P500 NASDAQ DOW JONES GOLD SILVER WTI CRUDE OIL
Enjoy!
May profits be upon you.
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Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies.
I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this channel, expressed or implied herein, are committed at your own risk, financial or otherwise.
What does gold-silver ratio tell us about precious metals?The gold-silver ratio has reached a key area of resistance between 80.30 to 80. 55 area and has reacted. This comes on the back of a major breakdown below a multi-year bullish trend line back in early May. So far, the ratio has held resistance here, which suggests that silver might be able to outperform gold again. However, it could also mean that both precious metals may be in a correction phase, with gold falling faster than silver
But given the bullish price action we have seen so far this year, I'm leaning more towards the bullish argument for precious metals than bearish. For that reason, the breakdown in the gold-silver ratio makes me remain bullish on silver.
Meanwhile, the grey metal itself has been testing a major area of support around $28.00 to $29.00 in the last few weeks. So far there have not been any major bullish breakthrough with the metal holding inside what appears to be a bull flag pattern or bearish channel.
By Fawad Razaqzada, market analyst at FOREX.com
SILVER My Opinion! SELL!
My dear followers,
This is my opinion on the SILVER next move:
The asset is approaching an important pivot point 29.409
Bias - Bearish
Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market.
Goal - 29.022
About Used Indicators:
For more efficient signals, super-trend is used in combination with other indicators like Pivot Points.
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WISH YOU ALL LUCK
BRIEFING Week #26 : Binary Mode Still Active...Here's your weekly update ! Brought to you each weekend with years of track-record history..
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SILVER BEARS ARE GAINING STRENGTH|SHORT
Hello,Friends!
SILVER pair is in the downtrend because previous week’s candle is red, while the price is clearly rising on the 2H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 28.917 because the pair is overbought due to its proximity to the upper BB band and a bearish correction is likely.
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Gold & Silver Build Momentum Into A New Rally PhaseAre you following my videos/research? If not, pay attention.
Gold and Silver will start to build momentum over the next few weeks - eventually moving 5 to 12% higher before mid-September.
This is a huge move for metals and will prompt Gold to attempt a rally toward $2750 while Silver attempts to rally above $32 - possibly targeting $34.
The dynamics of the global markets and the pending US POTUS elections will continue to drive global traders harder into precious metals as a hedge.
Nothing has changed.
The only thing that is new and taking place right now is the pause in metals is nearing an end point - which means we shift into bullish trending again.
Get ready - here we go (BULLISH)
SILVER Will Go Lower! Sell!
Please, check our technical outlook for SILVER.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 29.142.
The above observations make me that the market will inevitably achieve 28.644 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
Like and subscribe and comment my ideas if you enjoy them!