SilverXAGUSD ( Silver / U.S Dollar )
Bullish Channel as an Corrective Pattern in Short Time Frame
Completed " 1234 " Impulsive Waves
Break of Structure
RSI - Divergence
Consolidation Phase
Silverdollar
XAGUSD - 1H BullishOANDA:XAGUSD is showing strong bullish momentum, particularly as we approach late October 2024. On the technical side, the current chart presents a series of three bearish pullbacks, each one weaker than the last, suggesting the bearish trend is losing strength. Silver has now reached a key support zone, which aligns with the end of the bearish phase and a potential upward reversal. The breakout is likely, supported by bullish signals from the trend line and weakening bearish pressure.
From a fundamental perspective, there are several factors supporting this bullish outlook for silver. Global demand for silver, particularly in renewable energy sectors and industrial uses, continues to grow. In October 2024, silver prices have also been supported by increasing inflation concerns and the weakening U.S. dollar, as noted by various market analysts. Additionally, silver remains above critical moving averages, further reinforcing the possibility of continued upward momentum.
With a strong technical foundation and supporting fundamentals, silver looks well-positioned for a rally in the coming weeks. Keep an eye on key resistance levels and potential macroeconomic developments for further confirmation of the bullish trend.
Unraveling Silver's Price Puzzle: Volume Profile AnalyticsH ello,
As I draft this article, the price of silver is currently hovering above the key level of $31.2. This level is considered "key" because it represents a significant point where large buy and sell forces meet, as indicated by the volume profile at the bottom.
The importance of this level is further confirmed by the price action itself. Silver has been in a moderately strong uptrend, as suggested by the linear regression on the candles. However, the uptrend was interrupted at this price, and from September 24 until now, silver has been struggling to overcome the supply and push the price higher. You may observe how volume grows around this level, in a so-called "zone", and decreases as the market moves towards the zone borders. It's both a supply and a demand zone as indicated further by how the price usually returned into the zone after going out from it.
Between October 9 and October 14, the market absorbed significant sell forces. Absorption means that there were sellers, but the sum of the buying volumes (what I call buy force) negated the sell force's impact on the price. You can observe it on the chart where relatively tall sell volume deltas belong to candles of the opposite price action - Yellow volume delta candles to green price candles. Furthermore, if you observe it, you can also see that the buy force moved the price upwards against the sales. Additionally, for the first time since September 24, the demand outweighed the supply for a relatively extended duration.
Overall, the chart signals that it's an important time for silver's price. The market is in a balanced state where demand matches supply. However, if you look at the trend within this balanced state, you find a moderately strong uptrend. Thus, despite the balance, the trend projects higher prices in the future.
Regards,
Ely
Inverted H&S' on Silver Chart2 Inverted Head & Shoulders - possible trend continuation until final target.
Silver 2 Year Wedge Breakout Looming?Silver is at a critical point in it's chart. With gold breaking to new highs, Silver has underperformed but has rallied alongside the yellow metal. Now we are at a critical stage that can see silver breakout of its flag and continue it's bull trend. The indicator that I love to look for longer-duration breakouts is the slow stochastics, specifically, when it becomes embedded or stuck on one side or the other side at the extremes. The last embedded nature for Silver on the daily chart occurred a year ago, late March 2023, that saw price on silver rise from 19.90 to 26.50. For three weeks, slow stochastic was embedded. We are at that point again with this rally. We are also at resistance from the wedge pattern. While I do think we can trade down in the early part of this week, I'm looking for support and a rally to kick us back into the overbought range and embed or "lock-in" price action. Gold has already embedded. I'm looking for silver to do the same and get us through the topside for a breakout.
"Silver's 44-Year Cup and Handle Formation"Silver: 44-Year Cup and Handle Formation Points to Bullish Continuation
Silver, a timeless asset with a rich history, is capturing the attention of investors as it forms a 44-year cup and handle pattern, signaling potential bullish continuation. The current compression of the handle, coupled with a bullish pennant setup, suggests that a breakout could herald the onset of the next major bull cycle. Let's explore the dynamics of silver and the promising prospects it holds for investors.
Understanding Silver's Cup and Handle Formation
Silver's cup and handle formation is a classic technical pattern characterized by a rounded bottom (the cup) followed by a consolidation period (the handle). This pattern typically signifies a period of accumulation and sets the stage for a potential breakout to higher levels. With the cup spanning 44 years, the formation holds significant historical significance and suggests a prolonged period of bullish sentiment.
Compression of the Handle and Bullish Pennant Setup
Currently, silver's handle is undergoing compression, indicating a tightening range of price movement. This consolidation phase is often accompanied by diminishing trading volumes, reflecting indecision among market participants. Additionally, the formation of a bullish pennant within the handle further reinforces the bullish bias, as it typically precedes a continuation of the prevailing uptrend.
Breakout Signal for the Next Major Bull Cycle
A breakout from the handle's compression zone is anticipated to signal the beginning of the next major bull cycle for silver. This breakout would validate the cup and handle pattern, confirming the bullish continuation thesis and potentially unleashing a significant upward move in silver prices. Traders and investors alike are closely monitoring key resistance levels for signs of a decisive breakout, which could mark a pivotal moment for silver markets.
Conclusion: Positioning for Bullish Momentum in Silver
In conclusion, silver's 44-year cup and handle formation, coupled with the compression of the handle and bullish pennant setup, suggest that the precious metal is poised for bullish continuation. As traders await a breakout signal for the next major bull cycle, strategic positioning and prudent risk management are essential for capitalizing on the potential upside in silver markets. With the historical significance of the pattern and the technical indicators aligning, silver enthusiasts are eagerly anticipating the next chapter in its enduring journey as a sought-after asset.
#SILVER: A strong sell off expected! Dear Traders,
OANDA:XAGUSD a strong sell off is expected on silver this week. Firstly because recently price have been overbought and there is going to be ' a strong bearish impulse' due to adjusting he market equilibrium. Secondly, the NFP and other strong news that can affect the silver future price significantly.
We will have to keep close eye on the price action if price does not respect our zone then the idea will be automatically invalidated. we will update on this as we progress.
XAGUSD I Overextended "W" formation Welcome back! Let me know your thoughts in the comments!
** XAGUSD Analysis - Listen to video!
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Silver is shorted today
The silver price is currently near US223.75/ounce, and it has fallen by about 1.4% during the day.
If it falls below US223.75/ounce, this will open the way for a further decline in silver prices, and silver prices will continue to be expected for some time to come. The bearish trend scenario.
Currently waiting for the silver price to fall below US223.70/ounce to confirm that the silver price will fall further to the next short target of US223.00/ounce.
Stochastic indicators are currently showing bearish signals, and silver prices will show more bearish possibilities in the coming trading days.
It should be noted that if the silver price breaks through US224.15/ounce, this will push the important resistance level of the silver price to US224.60/ounce, and then try to fall again.
Today's silver price will be between the support level of USD23.50/ounce and the resistance level of USD24.30/ounce.
Silver strategy:
SILVER: sell @23 tp:24.3
Next, I will continue to provide more trading signals, and the weekly profit can reach more than 5K-10Kusd. I need signals to join me as soon as possible!
Silver/USD AB=CD Bullish Reversal Pattern - 1hr time frameAB = CD Harmonic Pattern formation has been observed which indicates an increase in the Silver Price (USD).
You can buy at 25.150 price point. Place a Stop Loss at 24.760.
Take Profit 1 @ 1:1 risk/reward will be 25.509 and Take Profit 2 @ 1:2 risk/reward, will be 25.890.
SILVER - Good Opportunity Hi, this is my new update for Silver. Finally today we have broken one of the biggest trendline in the history of Silver. In the past 2 years we have been stuck under this trendline and after testing it for the 6th time we finally see a good breakout, but not everything is certain right now. Two months ago I told you guys that we are in a "bullish expanding triangle" and I expect we are going to see a breakout and now it is time to see if this breakout holds.
First we have to test the resistance between 25.80 - 26.50$ and at the same time we are testing the 70.2% Fibonacci retracement level. I expect after we have tested those levels we are going to backtest the trendline and the support level around 24.30$ and if these levels holds that indicates the we have a valid bullish expanding triangle and we are going much higher.
At the same time we are in an overbought area in RSI chart and if everything I explained above happens I think we are going to see the RSI test the bullish area of 40 levels and it is going to bounce from that area.
Also good to see that we are getting back bullish momentum on weekly and monthly timeframes.
Silver - Are you ready? Hi, this is my new update for Silver. This week we got a big green weekly candle (+10%). We lost a big support level 2 weeks ago around 21.50$ and now we are above it again, I think that was beautiful bear trap. Right now we have smashed all daily and weekly moving averages and we are getting back the bullish momentum on daily chart. Another thing that is bullish in silver chart is that we are in a bullish expanding triangle and I expect we are going to break both the trendline and the the resistance around 24.40$ on this wave.
Silver - Beautiful Support Level Hi, this is my new update for Silver. On 9th may 2022 we broke important support level 21.60 - 22.10$ in Silver and after ranging below it for 210 days, we finally broke the resistance on December 1st. In the last couple of days we are testing it, to see if it holds as support level again or not. I expect that we are going to hold the support level, because at the same time we have 100 and 200 days moving averages near the support level, we have also 50 and 200 weeks moving averages, so we are little bit to lucky :)
Another thing we're looking at is that we are in a bullish expanding triangle and at the same we are getting back the bullish momentum in monthly timeframe for the first time since 2021. We have to be cautious too, because if we break the support level, I expect we are going much lower than 20$.
!!! SILVER !!! Possible H&S formation?Hi,
Here we have a baseline in the purple circle that can be the basis for the head and shoulders formation.
This is just an idea
Take care!
Silver quick lookTechnically, silver will test strong support, as what it breached, we may see it again at 22 levels.
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Silver analysis: How far the bear market rally might go?Silver is in the midst of a bear market rally, up 8% in the last two weeks and 13% since the end-of-August lows.
Although silver prices are still 23% below the peak reached in March, recent price movements suggest that silver is attempting to make a trend reversal at these levels.
Slowing market pricing for Fed interest rates next year has prompted the rally in silver prices over the past weeks. Investors reduced their forecasts for interest rates in the second half of 2023, and in the last week they priced in a first drop of 25 basis points after Fed funds are expected to reach a high of 4.9% in the first quarter of 2023.
An asset like silver that is extremely vulnerable to US interest rates has been granted some breathing room by both the decrease in Treasury yields – the US 10y yield has dropped by 30 basis points in the past week – and the weakening of the US dollar – with the DXY index falling below 110. Silver has been strongly and inversely correlated with the US dollar performance throughout the year.
The Federal Reserve meeting next week poses a concern because it could reignite hawkish arguments about the need to curb inflationary increases, which might halt the silver's rally. However, understanding how likely the Fed views a recession in 2023 will be critical, given the market builds many of its expectations for the conclusion of the hiking cycle next year on this matter.
A new attempt to break the 23.6% Fibonacci retracement level (2022 max-min range) can be seen on the daily silver technical chart. Sellers fought back hard at this level in September, pushing prices below the $19.7–20 zone. This level was breached in early October, causing prices to rise to $21.1-21.2 (38.2% Fibonacci).
Momentum indicators indicate that bullishness is gaining traction. The 14-day RSI surpassed 50 days once more, and the MACD indicates a bullish crossover close to the zero line.
If silver is successful in breaking over $19.8, a new overshoot toward $21.1 or $21.6 (200-day moving average) is possible. At that point, sellers might resume offering fierce pushback. Next Wednesday, a very hawkish Federal Reserve could return to exert downward pressure, leading to a retest of the 18.2 support level.
Idea written by Piero Cingari, forex and commodity analyst at Capital.com
Silver has broken local trend lineSilver has broken the short-term trend line and is likely to drop as it is highly likely that this instrument will retest the weekly support before making any move to the upside.
Currently, 25.45 could give us a selling opportunity with a target @24.32
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Silver (XAGUSD) Analysis 04/03/2021this is a 2 Day Candle Chart
as we can see the Price is up Ranging in a Yellow Ascending Parallel Channel where currently it is trying to break the lower bond.
there exist a Fibonacci golden zone of the smaller impulsive wave, which can show Support and if the price bounces from it then we can target the 1TP, which is Fibonacci Expansion -27% level of the main Bullish Wave.
the Red Box (Fib Confluences Level IMPORTANT) is the confluences of the 76.4% Fib Retracement of Smaller Impulsive wave and 38.2% Fib Retracement of the main bullish wave, where if the price falls and it stands as a support and bounces the price, then we can target the 2TP, which is the -61.8% Fibonacci Expansion Level of the main Bullish Wave.
there are 2 Vertical Lines which Shows the Speculated Dates for Achieving the Specified Targets, they are specified by Trend-Base Fibonacci Time,
there are total of 2 TPs Specified
1TP=35$
2TP=41$
please comment your Opinions...
Silver weekly analysis As you can see in the chart Silver is making lower high on weekly time frame and after 3 weeks of down fall we can expect a bounce back from next week.
21.50 is very important support area, if closes below the level will attract heavy selling.
Let it consolidate for 1 or 2 days then buy above recent high.
We can head back to 23.50
Closing above 22.50 will confirm up move.
Another Silver Analysis - H&SIdea for silver, demonstrating the Head and Shoulders pattern that has repeated itself throughout a bull market and into the next bear market
Points in grey box are very similar also
As we have just finished forming the right shoulder, it is likely that price will decline, furthering the bear market for silver
Silver Squeeze: Buy the DipLet's be real, Joe Biden is everyone's worst nightmare. But the inflation continues. And it's rapidly getting worse under the old guy with dementia. We need to find a better balance ⚖️ Where is the Justice? Bitcoin is crushing new ATH's right now, it's really just a measuring device for inflation and based on that measurement silver and gold are being badly manipulated. This is obvious fraud. Everyone knows it. When the IRS starts coming after we the people, it's time for we the people to demand and perform an Audit on them. GameStop and AMC proved without a doubt, what all those keyboard warrior, conspiracy theorists suspected. It's time we put silver and gold at it's rightful price. Send silver to $1,000. That'll get everyone's attention. $ASM my number 1 #SilverSqueeze play. 10x potential.
Silver to 27$Hello to all,
First AB=CD as shown with bold black lines has reached its target in the purple channel.
Now it's the second AB=CD's turn. I shown it with the bold dark blue lines in the purple channel again.
Stop loss if daily closes below 22.40
Good luck.
Silver both scenarios Silver can go any side but before taking a position we should wait until it breaks any line and after that we can confirm it is bullish or bearish of course with risk management.
