Silver lost supportWe lost the support level at 22 the other day with a clean break and tried to reclaim the level but tested as resistance.
Would be surprised to see this down trend continue for a little longer yet.
Dont mind the short scalp right now but invalidated if we walk sideways or break this up trend for now
XAG
Going DOWN?Are the words a whisper to my girlfriend after a long hard day at work... NO f@ck off are the words she whispers back.
As you can see i have a few very strong levels drawn on my chart, the main level been 22 as previously it was used as support which finally broke yesterday, today price has come back up to re test this broken level as resistance and if this resistance level holds then i can see bears pushing price down to 19! Now i am very bullish on silver long term because of all its industrial uses and the lack of supply in circulation, this only means one thing 2022 will be a very big year for silver bulls, but until then i can see price being manipulated by the big banks and been pushed down short term.
On the other hand if we fail to hold below 22 then the opposite could happen and we could push up to my next level of resistance at 22.89. In trading you have to look at both outcomes and let price tell you what it wants to do, if you rush in you will always lose.
So i am short term SHORT but long term LONG.
If you have any questions please just ask.
Cheers.
SILVER IN BIG TROUBLE!If Silver holds below 22 on at weekly close then i will be looking at bears pushing price down to 19! 22 is such a key level as you can see on my chart this level has been used many times as key support and resistance, and taking into note that this is the weekly timeframe this makes this level VERY strong.
On the daily if you take a look yourself i am looking for price to push up to 22 and retest this broken support as resistance before pushing down, so this is where i will be looking at taking sell trades from.
Silver is heavily manipulated by the big banks as they want to keep the price down and make the USD look strong when the USD is far from strong! Silver is well below value as it is used in everyday items and supply is running out, so i can see Silver making a massive upwards move if we do hit that 19 target.
I am very bullish long term on Silver as you will know if you watch my YouTube channel, but this doesn't mean we cant see short term bearish moves. 2022 will be a massive year for Silver to make some big bullish moves.
If you would like any help then please message me.
Thanks.
SILVER Swing Long! Buy!
Hello,Traders!
SILVER fell onto the massive horizontal support
Exactly as I predicted in my previous Silver forecast
Now, I am expecting a bullish rebound
Because the support levels seems to be iron clad
So this is a great swing long opportunity
The first target is obviously the falling resistane
However, If it gets broken we will see bullish continuation
With the target that you can see on that chart
Overall, If you were looking to add Silver into your portfolio
This is the right time
Buy!
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SILVER Long From Support! Buy!
Hello,Traders!
SILVER keeps falling in a downtrend
Just as I predicted in my previous analysis
Towards a daily horizontal support level
From where I am expecting a rebound
And a move up to retest a resistance cluster above
Buy!
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✅SILVER WILL GO UP|LONG🚀
✅SILVER has bounced off the falling resistance
And continued its bearish movement
However, a massive horizontal support is nearby
And I am preparing to go long on Silver
Once the price retests the level
And forms the reversal pattern
LONG🚀
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🥈SILVER vs BITCOIN 🏆 - Comparison and Analysis 🗠Silver together with Gold dropped heavily today on good USA data (retail sales).
For many, Bitcoin is the new safehaven, taking away some power and shine from the precious metals (Gold and Silver).
As you can see on the chart there are similarities and Silver could rebound from here (just like Bitcoin did) in order to go for a second check of it's major resistance level.
Do you like this post? i wait for your comments.
One Love,
the FXPROFESSOR
SILVER : REVERSAL HEAD & SHOULDER FORMATION | SHORT VIEW 🔔 Welcome back Traders, Investors, and Community!
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SILVER Will Fall From Resistance! Sell!
Hello,Traders!
SILVER is trading in a downtrend
And the pair seems to be destined
To retest the falling resistance again
From where I would be expecting a bearish reaction
And a move down towards the local support
Sell!
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SILVERSILVER
1H time frame
Short position
Short position on silver with obviously some bumps in between which i will be doing future trade analysis's on so make sure to check them out when uploaded.
TP1 : 23.684
TP2 : 23.518
If you like my analysis and brief give it a thumbs up.
If you have any questions please feel free to leave a comment below or send me a direct message.
THE CRYPTO PLANET
XAG/USD EVERY SUNDAY LIVE ZOOM ANALYSISThe gold & silver market is pushing significantly higher, following a significant miss in the U.S. labor market with fewer jobs created in August.
Friday, the U.S. Labor Department said that 235,000 jobs were created last month. The data was weaker than expected as consensus forecasts called for jobs gains of 720,000.
While the headline data saw a significant miss, the Labor Department included substantial revisions to its June and July numbers. June's employment numbers were revised up by 24,000 to 962,000 from the previous estimate of 938,000. Meanwhile, July's data was revised up to 1.053 million jobs compared to the initial estimate of 943,000.
However, some economists note that the strong revisions are not enough to take the full sting out of the disappointing headline numbers.
Meanwhile, the U.S. unemployment rate dropped to 5.2%, down from July's reading of 5.4%. The unemployment rate fell in line with expectations.
The gold market has broken through critical near-term support levels in initial reaction to the weaker-than-expected employment data. December gold futures last traded at $1,827.10, up nearly 1% on the day.
Not only was job growth weaker last month, but positive for gold, wage inflation continues to creep higher. The report said that wages rose 0.6% in August, up from July's 0.4% increase. Economists were expecting to see a 0.3% increase.
A lot of focus had been placed on the August employment numbers. Many Federal Reserve officials noted that a strong number could prompt them to launch their plans to reduce their monthly bond purchases. However, some economists say the disappointing data could force the central bank to delay those plans.
"This disappointing report will make it a closer call than we expected for a September tapering announcement from the Fed," said Katherine Judge, senior economist at CIBC.
Paul Ashworth, chief U.S. economist at Capital Economics, said that the latest employment numbers puts the Federal Reserve in a very difficult position. He noted that the economic data shows the COVID-19 pandemic and the spreading Delta Variant is impacting the current recovery.
“Even allowing for the fact that first estimates for August often disappoint on the downside, the extent of the slowdown in jobs growth all-but rules out any tapering announcement at this month's FOMC meeting and, if this weakness persists, then it could be pushed into early next year.
XAG/USD EVERY SUNDAY LIVE ZOOM ANALYSIS UK 18:00
XAGUSD SILVERXAGUSD SILVER
Unlike gold, it cannot be reused (only with large losses), and therefore its amount is constantly decreasing. Most of the demand for this precious metal, namely 60%, comes from industry.
Silver is limited, which means that its value will increase significantly every year. According to forecasts, based on the rate of silver production - the world's reserves of this precious metal may theoretically be exhausted within 15 years.
If we look at most of the large-scale, global crises and the reaction to the precious metals market, we will see that demand has only increased. Silver is an excellent tool for diversifying a long-term investor's portfolio.
The growth potential is incredible in the long term, speaking of an investment of 10 years or more.
Technically:
There is a clear uptrend. A Cup and Handle pattern is forming on the monthly chart. Also, the 50-100-200 moving averages have recently crossed. It is a strong buy signal.
Best regards, EXCAVO