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💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast: While the price is above the support 17.520, beginning of uptrend is expected. We make sure when the resistance at 21.200 breaks. If the support at 17.520 is broken, the short-term forecast -beginning of uptrend- will be invalid. Technical analysis: While the RSI downtrend #1 is not broken, bearish wave in price would continue. A trough is formed in daily chart at 18.080 on 10/14/2022, so more gains maximum to Major Resistance (21.200) is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 64. Take Profits: 19.939 20.621 21.200 22.417 24.129 25.986 26.940 28.304 29.850 37.500 44.200 49.800 60.000 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
FOREXCOM:XAGUSD
by ForecastCity
💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast: While the price is above the support 17.520, beginning of uptrend is expected. We make sure when the resistance at 21.200 breaks. If the support at 17.520 is broken, the short-term forecast -beginning of uptrend- will be invalid. Technical analysis: While the RSI downtrend #1 is not broken, bearish wave in price would continue. A trough is formed in daily chart at 18.080 on 10/14/2022, so more gains maximum to Major Resistance (21.200) is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index ( RSI ) is 64. Take Profits: 19.939 20.621 21.200 22.417 24.129 25.986 26.940 28.304 29.850 37.500 44.200 49.800 60.000 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
FOREXCOM:XAGUSD
by ForecastCity_World
XAGUSD#FOREX #XAGUSD Silver falsely broke through the corner (but made it possible to make good money on its breakdown) and returned to the zone of uncertainty. We are waiting again. Now the price is trading at the level of concentration of horizontal volumes - ROS. It is sandwiched between two important corners (red and red). Slight probabilities are in favor of a downside (red scenario) due to a sustained mid-term downtrend and a weekly RSI below 50-60. Also, such false breakouts, as highlighted in blue, indicate the weakness of bullish sentiment, and the need to collect liquidity before moving further along the trend. In favor of growth, we can note the formed parabola (yellow), and the fact that the key global red corner is still held. If the price manages to consolidate above the red angle, then it will continue its upward movement along the parabola to the Gann angles at ~23.2 and 24.6 By and large, like many other financial instruments, silver is in an area of ​​uncertainty when volatility is compressed. This means one thing, that we will probably soon get a strong movement in one of the directions. Then it will be possible to stand in the desired position with a larger volume. In the meantime, you have to significantly reduce the volume and trade small movements. *This post is not an investment recommendation or a trading recommendation.
OANDA:XAGUSD
by airstels
xagusdSilver (XAG/USD) has been trading in a downward sloping channel since August 2020. On July 5th, 2022, the precious metal broke below the bottom trendline of the channel. Silver attempted to rebound a few times back into the channel, however it could only make it as far as the 38.2% Fibonacci retracement level from the March 8th highs to the September 1st lows, near 21.24. Since reaching that near-term high on October 4th, Silver has moved lower on 7 of the last 8 trading days. The 1 day it did close higher, it only closed higher by 0.01! If Silver continues to move lower, the firs t support is at the September 1st lows of 17.54. Below there, horizontal support crosses from the June 15th , 2020 lows at 16.95, then the April 2020 highs at 15.85. However, if Silver can manage to move higher, the first resistance is at the lows of October 5th at 20.02, then the highs of October 4th at 21.24. Above there, resistance crosses at the 200 Day Moving Average at 21.83.
FOREXCOM:XAGUSDShort
by DrGhanizadeh