Hi there. Price is moving impulsively to the upside. Now, wait for the price to form a continuation pattern and watch strong price action for buy. As gold and other metals, silver is inversely correlated to dollar, so more the dollar fall, silver rise. Don’t take a trade if you don’t see clearly when big guys are in.
XAGUSD is approaching our first resistance at 15.20 (horizontal pullback resistance, 61.8%, 100% Fibonacci extension, 38.2% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 14.54 (horizontal overlap support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement). Stochastic (89,5,3) is also...
XAGUSD is approaching our first resistance at 15.20 (horizontal pullback resistance, 38.2% fibonacci retracement, 100%, 61.8% Fibonacci extension) where a strong drop might occur pushing price down to our major support at 14.53 (horizontal swing low support, 61.8%, 100% Fibonacci extension, 50% Fibonacci retracement). Stochastic (89,5,3) is also approaching...
XAGUSD is approaching our first resistance at 14.84 (horizontal swing high, 78.6% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 14.52 (horizontal swing low support, 78.6% Fibonacci retracement). Stochastic (89,5,3) is also approaching resistance and we might see a...
Silver has been appreciating against the US Dollar after the currency pair reversed from the lower boundary of a medium-term descending channel located circa 14.00. As apparent on the chart, the exchange rate is re-testing the upper channel line near 14.65. From a theoretical point of view, the pair should reverse and drop to the 200-period (4H) SMA in the...
Silver has been depreciating against the US Dollar since the beginning of September. This movement has been bounded in a descending channel. By mid-Thursday, the pair has reached the upper boundary of the descending channel and the 200-hour SMA at 14.24. This short-term appreciation has pushed technical indicators in the oversold territory. This means that a...
XAGUSD is approaching our first resistance at 14.39 (horizontal overlap resistance, 38.2% Fibonacci retracement, 61.8%, 100% Fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 13.67 (horizontal swing low support). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias....
Midterm forecast: While the price is above the support 13.60, beginning of uptrend is expected. We make sure when the resistance at 15.60 breaks. If the support at 13.60 is broken, the short-term forecast -beginning of uptrend- will be invalid. Trading suggestion: There is a possibility of temporary retracement to suggested Buy Zone (14.650 to 14.400). We wait...
Midterm forecast: While the price is above the support 13.60, beginning of uptrend is expected. We make sure when the resistance at 15.60 breaks. If the support at 13.60 is broken, the short-term forecast -beginning of uptrend- will be invalid. Trading suggestion: There is a possibility of temporary retracement to suggested Buy Zone (14.650 to 14.400). We wait...
Silver had been moving sideways against the US Dollar since mid-July with a diminishing trading range. As a result, symmetrical triangle was formed within a more senior pattern—a descending channel valid since the beginning of June. This triangle was breached today. Such bearish breakouts are usually followed by a retracement from the breached pattern and a...
Silver has done 7 swing upon 7 swing. Oversold on weekly. Over extended on Monthly TDI. Already turned up on Daily TDI. There is potential for a very large trade to the upside if it were to do a larger 7 swing on the larger scale. We can get more downside before the LARGE upside move, but we are at a major fibonacci and pattern confluent supply zone. Hard for me...
Daily bearish engulfing creating an all new low for the year. Heat still around the trade war so greenback will be showing strength, the least resisted area now is 15.60 ? Further retest passed fib area is likely due to volatility in the commodity. Opinion not a position.
For me I won't touch XAG/USD till the breakout confirmed either ways!
XAGUSD (Silver) is testing major resistance at 16.85 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance) and a strong drop could occur at this level to push prices all the way down to major support at 16.29 (Fibonacci retracement, horizontal swing low support). Stochastic (55,5,3) is seeing major resistance at 93% where a corresponding...
XAGUSD is testing major resistance at 16.66 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance) and a strong reaction could occur at this level to push prices all the way down to major support at 16.29 (Fibonacci extension, horizontal swing low support). Stochastic (55,5,3) is seeing major resistance at 96% where a corresponding reaction...
XAGUSD is approaching our first resistance at 16.83 (horizontal swing high resistance, 100% Fibonacci extension, 61.8% Fibonacci retracement) where price might potentially drop to our major support at 16.33 (horizontal swing low support). Stochastic (55,5,3) is also testing our resistance and a reaction off this level might be a good precursor for a potential...
XAGUSD is seeing strong support above 16.02 (Multiple fibonacci extensions, major 78.6% Fibonacci retracement, horiozntal swing low support area) and a strong bounce could occur at this level to push prices up to major resistance at 16.81 (Fiboancci extension, horizontal swing high resistance, fibonacci retracement). Stochastic (55,5,3) is seeing strong support...
Silver has again reached its crucial lower range end and is in a serious demand area around the $16 area on top of a Daily Trendline and area of support. It also sits atop the 23.6 of the larger move, price tends not to drop below here in recent history look for a Long entry with your stoploss below the 23.6 Price is in a Weekly Wedge and very likely to break out...