Get started

XAG

Gold - Fundamental and technical factors stay in gold's favorUpcoming rate hikes, inflation and geopolitical tensions in regards to the situation in Ukraine keep positively impacting the price of gold. Yesterday XAUUSD peaked at 1914.32 USD, just slightly below the important resistance level at 1916.615 USD. We continue to be bullish on gold and we will watch whether it will manage to break above the resistance. Our short-term price target of 1925 USD and medium-term price target of 1950 USD stay in place. Illustration 1.01 Picture above shows the daily chart of USOIL's RSI. It is observable that RSI stayed overbought for approximately a month. We expect a similar phenomenon to occur in gold. Technical analysis - daily time frame RSI reached an overbought condition which normally precedes correction in price. However, due to very bearish conditions in the general stock market we think RSI is likely to exhibit overbought condition for a while longer (similarly like in USOIL). This would imply a very strong bullish trend. MACD and Stochastic are bullish. DM+ and DM- are also bullish. ADX increases which suggests that the bullish trend is gaining momentum. Overall, the daily time frame shows first warning signs of overbought condition in the short-term. However, it still remains very bullish. Illustration 1.02 Picture above shows the daily chart of gold's RSI. At the moment, it shows overbought condition. Technical analysis - weekly time frame RSI, MACD and Stochastic are all bullish. Same applies to DM+ and DM-. ADX exhibits growth which signals the bullish trend is gaining strength. Overall, the weekly time frame is very bullish. Support and resistance Short-term resistance is at 1916.615 USD. Resistance 1 lies at 1965.572 USD and the major resistance level can be found at 2075.282 USD. Short-term support is at 1877.14 USD and Support 1 at 1834.195 USD. Support 2 sits at 1750.74 USD. Major support level can be found at 1676.866 USD Please feel free to express your own ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor. Your own due diligence is highly advised before entering trade.
OANDA:XAUUSDLong
by Tradersweekly
15
SILVER (XAGUSD) | The best place to buy🎯Hello traders, Silver in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe. In the count we had at higher times, we came to the conclusion that we will have an upward trend. This trend may be for wave 3 from the lead or for wave c from the correction. At this time, a wave has formed in a leading form, which we have labeled as the main wave 1, and now we doubt the beginning of wave 3 or still in the correction process for wave 2. For this purpose, we considered several ranges. The first range is the breaking of the canal roof (red circle), which is a confirmation for the beginning of wave 3 and the ascending trend. The next price range will be 21000, which is a downtrend if this range is completely broken. In the next analysis, we will determine more precisely what the ascending and descending scenario is like. 🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏 ❤️Please, support this idea with a like and comment!❤️
FX_IDC:XAGUSD
by mahdisoltaninjad
2
SILVER (XAGUSD) | The best scenario for climbing📝Hello traders, Silver in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe. As we said in the previous analysis, we will generally have an uptrend, which may be for the impulse phase or the continuation of the correction process. According to our count from this part, the process of waves 1 and probability 2 is over, and if the upper side of the channel is broken, the beginning of wave 3 is also confirmed. Otherwise, according to the previous analysis, the downward trend will continue, but it will deviate from normal and the strength of this decline will decrease compared to before. 🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏 ❤️Please, support this idea with a like and comment!❤️
FX_IDC:XAGUSDLong
by mahdisoltaninjad