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XAG

$XAGUSD - Technical analysis and some fundamentalsHi guys! 👋🏻 🔔 Silver once again outperformed Gold today by gains, Silver is up just over 1%, while Gold gained only 0.24%. 🔔 According to the CFTC data as of March 9, there is a 20,000 spread between the overall net positions on Silver Futures, with an edge going to short positions. The update of the CFTC data on Silver will be released later tomorrow, worth checking it out. 🔔 As per the technicals, silver seems bearish below the ascending channel, the retest of the channel’s dynamic support as resistance, on March 11 adds fuel to the bearish sentiment of XAG/USD. 🔔 Although Silver might look ascending in a short uptrend, supported by a signal from MACD, MA100 and MA200 act as a strong resistance lying right next to the dynamic level which acted as a strong resistance previously, there is a key level and a pattern which might halt the uptrend for a longer period. 🔔 A falling wedge pattern formed on a 4H XAG/USD chart suggests that there should be one more leg down before Silver could regain power and continue upwards. There is a strong resistance at levels $26.60 and $26.75, which should be tested soon enough, the area of this resistance’s strong repulsing force is backed by multiple static resistance points, upper edge of the wedge pattern and the upper edge of the local ascending channel. 🔔 If Silver is not able to break and close above $26.75 and is rejected by this resistance area, the sharp fall may send it back to $24.90 and $24.35. If Silver is able to close above $26.75, then it might signal the bullish continuation of the precious metal, however the first scenario looks more relevant based on the chart analysis and the data from CFTC. 🔔 To minimize your risk wait for the touch of the dynamic resistance mentioned above or breakout from the lower local dynamic support (black) ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
OANDA:XAGUSDShort
by azizelliott
Silver Weekly TimeFrame Analysis 01/02/2021as we can see we have few resistance areas and a heavy zone before reaching our Fibonacci projection parallel leg levels and we have specified it as our TP areas if the price continue its rally in the specified Chanel the Arrows so does the date for our TP occur ON time as we have specified them by Fibonacci time Zones i believe this commodity is under valued so we have some chance to purchase it and invest on it it has a long term horizon yet worth of thinking abut it please comment your opinon
OANDA:XAGUSDLong
by BitonGroup
6
SIlver on a short outlook 🦐On the 4h chart Silver after the new test of the strong resistance level created a double top and move to the support area at the 25.8750 area. If the market will break below, according to Plancton's strategy, we can set a nice short order. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
SAXO:XAGUSDShort
by InkyGrip
10
ridethepig | Silver Slingshot📌 ridethepig | Silver Slingshot Attacking the highs several times • The protecting sellers get in each other's way! • How to maintain the momentum • The birth of fresh strength • Reassessment as an invalidation Since after: The move has been very promising, buyers should, as has been emphasised a few times, have played the momentum trigger. What is the importance of this you may ask? Well, in a nutshell, it renders the 22.5x strong floor as an outpost and fixes it in place in a well defined map. Previously buyers were unable, for good or ill, to break through the highs in one sweep, which is now possible and defines our slingshot. We must also recognise that 26.0x (our pivot level in play for this exercise) contains recognition from both institutional buyers and the WSB crowd dreams of forcing their opponent into capitulation. When both sides align, it's time to swing the bat - it is no surprise that Silver is catching a bid - the people's coin one again being defensive and passive. The goal is an ideal one; the 27% posted targets (see 33.2x). The continuation in nature might be very similar to the playing before: This slingshot shows us the dark side of multiple protection of dollar devaluation which puts the inflation side in the spotlight. You should take with you the idea that underlies this move, in order to be able to maintain the pressure, one must not allow the noise from politics and etc to break your short dollars development. Instead we are going to use the market structure as our guide to clear up any information asymmetry, i.e, if sellers take 18th Jan lows (24.0x) in a sustained breach it can show early signs of the momentum fading and will call for reassessment in the bullish view. Thanks as usual for keeping the feedback coming 👍 or 👎
FOREXCOM:XAGUSDLong
by ridethepig
10