#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.
Silvershort
Silver 4H : Waiting for News SILVER
New forecast
The price of silver rose in yesterday's trading with noticeable positivity, penetrating the 22.23 level and settling above it, and approaching the 22.50 level to provide negative signals as long as the price is trading below the mentioned level.
Therefore the downtrend scenario will be remain valid as long as price trade under 22.50 supported by moving average 50 that is continue to support the price to decline but to confirm the bearish trend should stable under 22.23 and then will help the price to reach 21.97 and 21.60 , taking in to account that stabilized above 22.73 will postponed the bearish attempts and start the positive waves . so it is possible to continue at the positive correction until 22.73 and then dropping .
The expect range trading for today it will be between resistance line 22.73 and support line 21.97 until stabilized .
Additionally , Today News will affect on the market .
resistance line : 22.50 , 22.73
support line : 22.23 , 21.97
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
SILVER 4H : Still support further decline SILVER
New forecast
The price perfectly fulfills my last idea and price reached to our targets .
The price of silver declined and succeeded in achieving our second expected target at 22.23, and opened the day with a strong decline to break this level and confirm the continuation of the dominance of the downward trend, paving the way for heading towards our next target, which reaches 21.35 and stabilized under it will reach to 20.91 and to confirm the bearish trend should stable under 21.97 and then our target will be activate .
Therefore, the downward trend scenario will remain effective for the coming period supported by moving average 50, noting that the breach of 22.23 will stop the expected decline and lead the price to begin recovery attempts in the intraday term.
The expect range trading for today it will be between resistance line 22.23 and support line 21.35 until stabilized .
resistance line : 22.23 , 22.50
support line : 21.97 , 22.35
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Silver has a big problem!
Let's take a look at silver pricing together. Silver has been consolidating for a long time in a range. Every time silver tried to go higher it was rejected. We are already at the end of the consolidation, where the bears are cutting every move up. I don't see any signs that the price is going to go higher again. it can be seen how the price was gradually rejected from the top and further from 0.6 Fib and 0.5 Fib. Subsequently, we soon expect a steep drop to a value of around 21d.
Silver is trading within descending channelFrom the start of the month may XAGUSD/Silver is in downward movement after forming a double top formation. Ever since this drop its forming clear descending channel. Within this bigger trend formation We can see some rising wedge formations which is indicating the upcoming bearish trend until this trend gonna breakout. The price is currently below 50% Fibonacci level. In Elliot wave analysis currently larger third way is under formation.
XAG SILVER Neowave - Elliott Wave Theory Analysis (Medium Term)Silver is forming a potential diametric structure in the medium term and the second phase of this structure has begun. The potential route I expect the price to follow is indicated in the image (with dotted lines).
The wave e of the diametric structure is estimated January 15, 2024. We can say that we will be in a bear market for the next 2 months. After that, the structure will be completed with the rise of f and the fall of g.
With the completion of the structure, I think we will enter a prolonged bull market. Maybe a short but sharp rise in time, or a market period spread over time... We will analyze this in the sequel.
Your support is important for me, I can say it is a source of motivation. So thank you for that.
SILVER 4H : still support further decline SILVER
New forecast
The price of silver rose yesterday and achieved immediate gains to test the 22.73 level, and we notice that the price bounced down from there in an attempt to resume the expected downward trend in the immediate term, waiting to test the 22.50 level initially, remembering that breaking this level will push the price directly to 22.23.
Therefore the downtrend scenario will be remain valid and effective for the coming period supported by moving average 50 that is continue to support the price to drop , taking into account that stabilized above 23.00 level will end the downtrend .
The expect range trading for today it will be between resistance line 23.73 and support line 22.23 until stabilized .
Additionally ,Today News will affect the market .
resistance line : 22.73 , 23.00
support line : 22.50 , 22.23
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
SILVER 4H : Under 22.73 will be downtrend againSILVER
New forecast
The price of silver begins today's trading with negativity, trying to break the 22.73 level and settle below it. By breaking it, it will head towards a shift in the direction to the downside, and we expect the bearish tendency to continue to test the 22.50 and 22.23 areas mainly.
Therefore, we expect to witness further decline in the coming sessions, but on the condition of holding below 22.73, keeping in mind that a stabilized above 22.73 again will reactivate the bullish wave targeting the 23.12 level initially.
The expect range trading for today it will be between resistance line 23.12 and support line 22.50 until stabilized .
resistance line : 23.12 , 23.35
support line : 22.74 , 22.50
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
SILVER 4H : Under sell pressure SILVER
New forecast
The silver price found strong support formed at the breached resistance of the descending subsidiary channel, to test the pivotal resistance 23.12 now, and maintain its stability below it so far, which supports the chances of a downward bounce to resume the expected downward trend for the coming period, whose next main target is located at 22.73.
Therefore, the downward trend scenario will be remain valid and affective and we continue to favor the downward trend in the immediate term, taking to account that breaching 23.12 will lead the price to achieve new gains so above 23.12 the price will try to retest before dropping.
The expect range trading for today it will be between resistance line 23.35 and support line 22.23 until stabilized .
Additionally ,Today News will affect the market .
resistance line : 23.12 , 22.50
support line : 22.73 , 23.00
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
SILVER 4H : Under sell pressureSILVER
New forecast
The price of silver achieved a clear break of the 22.73 level and ended yesterday’s trading below it, turning lower and heading towards visiting the 22.50 level as a next negative target, with the need to be aware that breaking this level will put pressure on the price to incur additional losses of up to 22.23 in the near term.
Therefore the downward scenario will be remain valid and affective supported by the 50 moving average supports the continuation of the expected decline for today, which will remain in place unless the price is able to penetrate the 22.73 level and stabilize above it again.
The expect range trading for today it will be between resistance line 22.73 and support line 22.23until stabilized .
Additionally ,Today News will affect the market .
support line : 22.50 , 22.23
resistance line : 22.73 , 23.00
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
High's placed sofar?? #SILVER... As we discussed about 23.4 in our last Idea, and you can see how market hold 23.04 and placed around 23.40 as day high in yesterday,
According to pattern I think market have placed his current highs,
Now If market hold yesterday high then it can drop further and come back to his supporting areas,
Now only plan for further buying will be valid above yesterday high otherwise not .
Trade wisely
Good luck
XAGUSD I Short from resistance Hello,Traders!
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XAGUSD is trading in a downtrend
on the daily, however after the recent bullish impulse
and bullish engulfing candle on the weekly, we believe a
correction to 22.28 is in process and then, more
potential upside is probable. Short!
Trade safe and good luck!
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Check out other forecasts below too!
A bearish retest of #silver ? #gumus #xagtryg#silver is now on retest of broken trendline in rising channel. In this retest, if price declines, i expect more dump. NOT FINANCIAL ADVICE.
#gumus su an kirmis oldugu trend kanalina tekrar girmek icin retest yapıyor, bearish retest dedigimiz bu fiyat ataginda onumuzdeki hafta basi itibariyle sert deklinasyonlar gelirse bu #xag gumus fiyati trendinde bir sure ayi piyasasi olusturabilecektir. Sadece teknik ongorudur , her zaman kendi kararlarinizi kendiniz verecek durumda olunuz. YATIRIM TAVSiYESi DEGiLDiR.
Today's update for silver 4H Hello everyone, The silver price is showing noticeable positive trading to approach our expected target of 21.95, and we remind you that exceeding this level will lead the price to achieve additional positive targets of up to 22.29 in the near term.
The expected trading range for today is between support 21.60 and Resistance 22.29
Pivot Price:21.95
Resistance Price: 22.29 & 22.45 & 22.71
support price: 21.77 & 21.60 & 21.41
The general trend expected for today: Bullish
Timeframe: 4H
SILVER 4H : try to retest and then push upSILVER
New forecast
The price of silver achieved a clear breach of the 21.35 level and ended last Friday’s trading above it. The day begins with an additional rise and is heading towards testing the 22.23 level mainly, which makes us likely to witness further rise during the coming sessions.
Therefore the upward trend scenario will be remain valid and effective during next days but at first the price will try to correction to 21.35 and then will rise up to 21.97 and 22.50 ,keeping in mind that breaking 21.35 will stop the positive scenario and put pressure on the price to decline again.
The expect range trading for today it will be between resistance line 21.97 and support line 21.35until stabilized
support line : 21.60 , 21.35
resistance line : 21.97 , 22.23
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️