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Silvershort

Silver testing major resistance, prepare for a potential reversaSilver continues to test major resistance at 17.03 (Fibonacci retracement, breakout area) and a potential reversal could occur at this level. We can see that price has made a bearish exit of our long term ascending support-turned-resistance line and coupled with a bearish divergence, this could be the setup for a strong drop. RSI (34) has made a bearish exit of our long term ascending support-turned-resistance line signaling that a reversal is impending. Coupled with the bearish divergence we’re seeing vs price, this could be the precursor of a major bearish move. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
Silver approaching major level of resistance, keep an eye out!Silver is approaching a major level of resistance at 16.31 (38.2% Fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback resistance) and a strong reaction could occur at this price to push price down to support at 15.62 (Fibonacci extension, horizontal swing low support). Our next major level of resistance is at 16.63 (Fibonacci retracement, horizontal pullback resistance). Stochastic (34,3,1) is seeing major level of resistance at 99% where a corresponding drop could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
Silver approaching supply area, could a reversal occur?Price is approaching an area of resistance at 16.31 (38.2% Fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback resistance) and a strong reaction could occur at this level. Our next level of major resistance is at 16.63 (38.2% Fibonacci retracement, horizontal pullback resistance) and our next major level of support is at 15.62 (Fibonacci extension, horizontal swing low support). Stochastic (34,3,1) is seeing major resistance at 99% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
Silver approaching major resistance!Silver is seeing major resistance at 16.313 (38.2% Fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback resistance) and a strong reaction could occur at this level. The next major level of resistance is at 16.639 (Long term 38.2% retracement, horizontal pullback resistance) and the next major level of support is at 15.62 (Fibonacci extension, horizontal swing low support). Stochastic (34,3,1) is also seeing major resistance below our 99% level and stochastic could rise to that level before having a corresponding reaction. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
Silver needs more JUICEDefinetely everyone is waiting for a VERY STRONG LONG BREAKOUT for silver. And the key word here is: EVERYONE. We can be 80% sure, that silver will rally in the coming weeks/months. But what does a rally need? STRENGTH, ENERGY and MOMENTUM! That's what we still don't have. Silver simply can not perform a BREAKOUT with RSI being near 60-80 on every timeframe! So in my opinion we are going to touch the 16.9 level once again slowly. To gain strength for RSI. Even the Stochastic shows a coming SHORT. I think we can WIN more money on these small but more predictable moves, than on a breakout. TRADE SAFE! PLEASE SHARE YOUR OPINION! If don't agree, comment. If agree, like and follow for more, it is a nice feedback to me :)
FX:XAGUSDShort
by armand_forex
XAGUSD-Silver Medium TermMy previous recommendation on Silver to short at 17.30 for a target to 16.85 was successful, For now a top of the head & shoulder pattern is completed, expecting for the right shoulder to be formed to confirm the pattern. Intermediate trend looks to be bearish now as it broke the multi-days bull channel & all momentum indicators are turning bearish so a lower top is needed for confirmation of the bearish trend. Strategy: Short on a bounce around 17.03-22 for a target to 15.87, tight stop above 17.41
FX:XAGUSDShort
by UmarAbdurRehman
Silver respecting Weekly Resistance trendline Over trend is bearish so far it seems to be respecting higher the trendlines based on higher timeframes, Still no major bearish action yet but this could be the start of a Downtrend Continuation SL's and TP are on the chart but please use risk management! Waiting for more lower highs indicating bearish price action and seeing how much it pulls back. Stop hunts seemed to have occured during london patience is key! Looking for entries all next week but watching friday and sunday. SL: Above 17.361
FX:XAGUSDShort
by HeliosFX
Nice Silver trade possibilities. Bearish and than Bullish. A possible inverted Head and Shoulder pattern possible in silver. Presently rejected thrice from the neckline (around $16.90 - $17.00) and possibly going to make the right shoulder until ($15.40 - $16.00) and then shoots up until ($18.00 - $18.50). Its an idea for possible moves but not any advice for trade setups. If it matches with your analysis than it might be worth sharing in the comment section and do comment if there is other possibility. I am learner and prone to make mistakes. Good luck and trade wisely. Money is yours :)
FX:XAGUSDShort
by danrindia
GOOD SHORT POSSIBLE FOR SILVER (XAGUSD)Strong possibility that XAGUSD will continue to fall. We can see that there is a channel of ABC and 12345 waves which are quite consistent. It's still very early as it may be ending its channel. It's now important to look for a flag or a correction that confirms a BULLISH movement, the formation of an uptrend channel as it breaks out. Signifying a reversal instead. (In Blue) A strong BEARISH movement followed by a flag will confirm the short. Let me know what you think!
OANDA:XAGUSDShort
by Joshua_nate
Silver Ready For Bounce BackSilver on the daily time frame is now at the lower range and looks ready for a bounce back up. As you can see the shape of the range is a bullish wedge. Meaning: a high chance to break to upper range and continue in an upwards trend. How ever as you can see theres still a bit of space left. My prediction is that after going to the upper range, there will be 1 more wave down to the lower range before a bounce that will break the upper range and lead to a new trend up to 18.400. Trading advice: Buy The Dips SL: 15.200, take small buy positions and be ready/able to add more buys every 0.400 dip or 0.200 increase TP: 17.800-18.400
COMEX:SI1!Long
by JoshFX1