BluetonaFX - SILVER Diamond Pattern BreakHi Traders!
There has been a diamond pattern break on the Silver 1D chart, and there is potential for a re-test of the strong resistance level at 25.262.
Silver has been on a bull run since it found support near the long-term 22.117 level, and there was a momentum break to break and close outside the diamond pattern to complete the break.
We are now looking for further communication towards 25.262. If the market reaches this level, we expect strong resistance here again, as the market has not been above this level since May 2023, so there may be potential selling opportunities near this level.
We would love to hear your thoughts on this in the comments section. Please also do not forget to press the like button and follow for more updates.
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BluetonaFX
Silveranalysis
Jackson hole and silver below resistance. now?#SILVER... today is fundamental day, jackson hole and powell speach on table,
and silver is just below his resitance area 24.25
it will be market key level for today, keep close it because if market hold it as resistance then a drop expected otherwise it should be a market support in today,
dont be lazy here guys it will be expensive.
trade wisely
good luck
Silver ~ Snapshot TA / Bullish ConsolidationTVC:SILVER rallying to the upside & revealing its Bullish inclinations ahead of key Global Economic events.
Fibonacci Extension doing a great job identifying key Demand/Supply zones to watch for smaller-timeframe trend rejection/continuations.
Dashed horizontal lines (~25.26/~22.21) highlight key Make or Break levels for longer duration Swing Trades.
Golden Pocket/Gap Fill confluence presents interesting Stink Bid opportunity if Silver price action turns to disaster.
Boost/Follow appreciated, cheers :)
OANDA:XAGUSD COMEX:SI1! COMEX:SI2!
XAGUSD I Daily correction and continuation on the weeklyWelcome back! Let me know your thoughts in the comments!
** XAGUSD Analysis - Listen to video!
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SILVER Analysis 20Aug2023if you look at the price movement last week, there is a possibility that a reversal will occur. I still use the Eliot Wave notation a few weeks ago with the assumption that the price will be bullish with the invalid area boundary below. if the area is violated then the elliot wave notation will change and the trend will probably be a complex correction wave.
Why Silver could reverse NOW!Hi Traders,
Silver is at a interesting zone right now.
One the one hand the longterm long trend is still valid. But we are close on the last low at $22.1
At this zone we have a massive support with last Daily low and also longterm daily trendlie.
Looking at today´s candle it seems that we might get a long reversal (possible bullish engulfing).
TP could be the Zone arround $24.4 where we have a resistance with also some key points and another trendline.
Wish you all great success!
Team tegasFX
SILVER : Rally from either of these inflection points expectedSilver is a safe investment and it can help to protect the portfolio against inflation and economic uncertainty.
I do expect a deep crash in US market in the near future and in the light of that view, I believe that it is time to add silver to the portfolio. I'm more interested in Silver over gold because it moves more than gold in terms of percentage.
I also expect immense potential for silver over time. Having hit record highs in 2021 and 2022, silver's industrial off-take is expected to strengthen further by 2.6 percent y/y to 550 million ounces (Moz) in 2023. Silver's industrial demand is highly likely to be lifted due to the vehicle electrification, and governments' expanding commitment to green infrastructure in the coming years.
Looking forward to add silver when it reaches either of the two inflection points mentioned. The position will be added in SILVERBEES.
Will update the entry level and more details underneath.
DeGRAM | SILVER potential buySilver is in a bullish trend in the ascending channel.
The market reached the demand zone, where the price made a sharp bullish move.
Price action created a pinbar at the support level, an indication of potential upward momentum.
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Silver Almost Ready To Run Part II
Since it`s top in may silver has been in corrective mode. I exited my last trade on April 14 close to the top and have been on the sidelines since then – see my last idea. In my opinion the correction is nearing its end.
Looking at gold I expect this next upcycle to be even more aggressive then the last. I´m not in the camp of the triple top – to the contrary – I expect gold to break its highs and run. It hasn`t even retraced 38% of it´s upmove (low in Sep 22) and already wasted so many weeks correcting in terms of time. Both very bullish since imo. Market was in need of some breathing so long-term moving averages could catch up.
I would suggest to have exposure to gold and silver. Key is to be patient now and wait for the entry to come. It may take 1-2 more weeks. COT does not look as good as in march yet. I would actually like to see ~21.60 maybe even a marginal break of the red uptrend, which is intact since sep 22. Not sure if we get that low ~22.30 is monthly mid Bollinger. Somewhere in between I will look to buy. Weekly RSI 6 is at ~34 nearing oversold.
Interesting point is that gold has broken its uptrend-line – something that is often necessary for a market to bottom, its when technical traders sell their positions – while silvers uptrend-line is still intact.
Majestic Trade First Majestic Silver - NYSE:AG
- Risk/Reward Ratio 12
- Positive Divergence
- Spring reversal from under ascending triangle
- Green circle is the convergence of 200 DSMA,
POC & break out from falling wedge. A break &
close above $7.10 may be confirmation
You could enter here and place your stop as outlined on the chart and be ok with 20% hit in the event of. Or you wait for the confirmation above the noted levels before entering and place a higher stop.
PUKA
SILVER Analysis 30July2023With the formation of a new LL in the wave structure, it is certain that the possibility of greater bearish continuation. It is possible that currently a complex correction wave is formed to determine the wave (2) where Wave 2 is always a correction wave. If you want to do a short, you can do it when the price approaches LH
SILVER Analysis 24July2023I see this commodity positively bullish, now the price is stuck in the SND area and I try to provide Fibo Retracement, and the results are quite supporting this analysis to find the long area. There are 2 SND areas that are quite striking here, where the SND area intersects with Fibo 0.618 and 0.236, and the 0.236 Fibo area is also close to the bullish trendline, quite interesting?
Silver 4H Pivot Price: 24.98Silver
stabilizing above 24.98 will support rising to touch 25.16 then 25.35 then 25.53
stabilizing under 24.98 will support falling to touch 24.65 and then 24.50
Pivot Price: 24.98
Resistance prices: 25.16 & 25.35 & 25.53
Support prices: 24.65 & 24.50 & 24.20
timeframe: 4H
Silver- Confortable above supportLast week was a good one also for Silver, with the price managing to break above two important resistances: 23:20 and 24:50.
Now XagUsd is trading comfortably above the latter, which should provide support now.
That being said, dips in the 24.50 zone should be bought and the target could be set in the previous high zone around 26.
Negation comes with a daily close under support