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XAG

RLinda ! GOLD->The ABC correction is over at 0.618? What's next?Gold closed the week's session Friday with a 1.2% loss , recovering after testing lows of 1818.9, as the dollar declined from session highs The ICE dollar index was last up 0.12 points to 103.97 after earlier hitting 104.67. The 10-year bond yield also fell 2.4 basis points from the day's highs after reaching 3.922%. However, the fall in the metal's price came amid economic data this week showing that U.S. inflation rose 6.4% faster than expected in January , retail sales last month rose above forecasts, and the producer price index also beat expectations . The strong data came after the Federal Reserve signaled a more dovish turn at the end of its Feb. 1 policy meeting, but now several central bank officials are calling for a more hawkish approach to raising rates and keeping them on hold longer to push inflation toward the 2% target, which is bullish for the dollar and yields Technical Analysis: We see that the corrective 4th wave ends in the area of the formed 0.618 Fibonacci level (at 1816.22) In this area also passes a strong upward support line (dotted line), at the point of intersection formed a strong support, which caused a fairly strong price correction closer to the close of the session, where we saw a price recovery of 1.35% Friday's intraday candlestick closes at its highs, and there is a chance that the bullish pullback will continue on Monday , breaking the 0.5 Fibonacci level ( 1843.63 ). If that happens, the price will open the way to 1871 ( 0.382 Fibo ) and 1904 ( 0.236 Fibo ). Consequently, if the price soon overcomes the 1843 area and continues its strengthening, it will be possible to claim the end of the ABC correction movement, which started at the 1959 area and ended at the assumed 1816 level. If the correction ends, it would make sense in the medium to long term to expect the price to rise to areas such as. 1920, 2000, 2070, 2100 Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
41
XAGUSD potential for bearish drop towards overlap supportLooking at the H4 chart, my overall bias for XAGUSD is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. Looking for a pullback sell entry at 23.01995, where the overlap resistance and 38.2% Fibonacci line is. Stop loss will be at 24.63700, where the previous swing high is. Take profit will be at 20.80500, where the overlap support is. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
OANDA:XAGUSDShort
by VantageMarkets
RLinda ! GOLD-> It's too early to talk about a big drop!Gold still retains upside potential. Although on the local timeframes it seems that gold starts a strong fall, looking at the global ones, it is too early to talk about a fall. Since gold is in consolidation, the big player will make any maneuvers to attract additional speculators' assets. All traps are used in such a game, so it is logical to trade from the range boundaries and, by the way, it is allowed to both buy and sell, the main thing is to follow the risks and rules! On the chart we still have a rising trend of lows and highs, the gold has not yet overcome the key support zone to talk about a fall or a global correction. The price is trending towards the strong support area of 1900-1902. I expect a bounce in price and a possible strengthening towards the 1910 and 1920 area. Regards, R. Linda!
OANDA:XAUUSD
by RLinda
17
RLinda ! GOLD-> The price behavior adds optimism Gold's correction of $50 and almost 2.50% price seems to be over. The price is bouncing off the key support level of 1901 and continues to feel fairly confident Price is fumbling for a local uptrend support line, which buyers are likely feeling like a solid wall. At the same time, price is in a 1917-1934 consolidation, price has previously worked out the support perfectly and should in fact head towards resistance as a target. There is a chance before momentum to 1934, there could be a pullback to 1917 for a retest, or an extended consolidation above the support line I mentioned. Gold's confidence strengthens support for our optimism. I expect gold should find strong support in the near term to reach the 1937 consolidation resistance. Regards, R. Linda!
OANDA:XAUUSDLong
by RLinda
22
RLinda ! GOLD-> Breaking support, moving to consolidationGold makes all buyers nervous as the price breaks the prospect of a continued upward move. What's next? As we can see, the price breaks the support of the price channel and forms numerous retests, which can be considered as an attempt to fix the price under the line. There is a consolidation formation with the approximate boundaries of 1935-1917, which means that the price can trade within these boundaries for quite a long time. But at the same time there is a probability of a scenario for selling, provided the price breaks through the support of 1917, the price can go down to 1900. At the moment the price is in consolidation 1935-1917, the market passes into the phase of accumulation (phase of neutrality). It is acceptable to trade both selling and buying, but at the same time it is worth to observe the risks. Regards, R. Linda!
OANDA:XAUUSD
by RLinda
24
XAG/USD (Silver) Fundamental Analysis + Forecast 1/29I've been watching silver prices closely, and they've been hovering around $24 per ounce so far this year. On January 16th, the price briefly touched a nine-month high of $24.4, helped by a weaker dollar and expectations of easier monetary policy. There have been signs of lower inflation and recession concerns, which have fueled speculation that the Federal Reserve may stop raising its funds rate at 5%. Recent data shows that annual PCE core inflation has continued to slow, and personal spending has contracted for a second straight month. These developments have made non-interest-yielding bullion more appealing, and lower borrowing costs have also increased demand for silver as an industrial input for goods with high electricity conduction needs, as evidenced by the recent rise in solar energy equities. Additionally, supply concerns are supporting silver prices, as COMEX inventories remain under pressure and LBMA stockpiles have declined due to outflows to India. Our neural network-based forecasting model predicts that silver prices will continue to be close to the $24 per ounce mark this quarter, and we estimate that the price will be around $24.2 in 12 months.
TVC:SILVERLong
by TayFx
SILVER decision timePlease 1st of all click the boost 🚀 button if you want me to post more ideas and follow me to support my work! It's absolutely for free. This is follow-up to the idea I posted 3 months ago when I called falling wedge breakout to the upside. XAGUSD is doing really well since and now is heading into strong resistance cluster created by zone 24.15-24.40 and by major downtrendline (red). Notice the price action which formed rising wedge pattern (lime) which is usually bearish, but it can also break to the upside - in the early stage of new uptrend. So decision time is coming ... breakout up or down? Just closed part of the long position just in case we turn down south. I will not be trading until break occurs and things settle a bit. There is another hurdle @ 26.20-26.95. Sitting on the sidelines is sometimes the best thing one can do! Check my other stuff in related ideas. Please boost🚀, comment🗣️, follow me✒️, enjoy📺! ⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
FX_IDC:XAGUSD
by bizmark
4
RLinda ! GOLD-> The price breaks resistance. The bulls are stronGold shows us a hint of a medium-term outlook. The price is tearing up, breaking through several key resistances and probably targeting 1978 in earnest. Key points marked on the chart: triangle, main upward channel. Price is tearing up relative to these figures, in the process of forming a new channel. The price is moving into the long zone relative to the 1935 level. I expect price to finally consolidate in the long zone (a retest of the 1935 level is possible as a false breakout) and we will see momentum after this phase. I expect the bulls will be able to hold the 1935 zone and continue to push the price higher. The short-term target is the resistance of 1952, the medium-term target is the liquidity zone of 1966. Regards to R. Linda!R
OANDA:XAUUSDLong
by RLinda
22
XAU/USD = SILVER SHORT | RR: 3 + RR: 9In today's post, we go into a potential SHORT in XAU/USD = SILVER, which will have to prove itself in the next few hours. To give you a brief overview of the symbols used in the chart, I have included a labeled version of the chart. DIRECTION RISK TO REWARD = 3.16 RISK TO REWARD = 8.82 CAUTION Before you enter the SHORT, pay attention to the smaller time frames, how they react to the drawn levels. > If there is no desired reaction on the smaller time frames, then you have to wait and see. > Additionally, watch the DXY and GOLD for how the two pairs behave. If the DXY continues to sell off as expected, the SHORT idea is unnecessary. > Feel free to share in the comments, about the implications of this week's dates. > Sharing your perspective allows each of us to improve. If this explanation has added value to you, I would be very happy to receive a rating. Thank you and happy trading! ZIEL IST DIE AUTARKIE | THE GOAL IS SELF-SUFFICIENCY
OANDA:XAGUSDShort
by ZielIstDieAutarkie