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Silver Price Retreats from 2012 HighsSilver Price Retreats from 2012 Highs As shown on the XAG/USD chart, the price of silver climbed above $37 per ounce yesterday — a level not seen since 2012. However, this morning, the price has dropped by approximately 2.5% from yesterday’s peak. The bullish driver behind the rally has been fears that the US could become involved in a military conflict between Israel and Iran. Concerns in financial markets intensified after media reports stated that US officials are preparing for a potential strike on Iran. Another factor influencing silver's price was the Federal Reserve’s decision to keep interest rates unchanged and maintain a cautious policy stance. Yesterday, Jerome Powell warned that President Trump’s tariffs could fuel inflation (a bullish signal for silver) and complicate the economic outlook. Technical Analysis of the XAG/USD Chart In our previous analysis of the XAG/USD chart, we identified an upward channel. This channel remains relevant, though its configuration has shifted. The price of silver remains in the upper part of the channel (a sign of strong demand). However, two signals suggest a potential correction may develop: → A bearish divergence on the RSI indicator; → A sharp decline from the channel’s upper boundary (marked with a red arrow), breaking through the local line that divides the upper half of the channel into quarters. Nevertheless, given the scale of geopolitical risks, there is a chance that the bears may struggle to significantly shift the trend — especially with markets nearing the weekend closure. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XAGUSD
by FXOpen
2
Silver Offers More Upside and Less Risk Than Bitcoin In the ever-evolving landscape of investment opportunities, two assets often stand out for their allure as alternative stores of value: silver and Bitcoin (BTC). Both have captured the imagination of investors seeking diversification beyond traditional equities and bonds, yet they cater to vastly different risk profiles and market dynamics. Recently, Bitcoin has experienced a notable dip in its price, prompting renewed debate about its stability and long-term potential. Amid this backdrop, silver emerges as a compelling alternative, offering more upside potential and less risk compared to the volatile cryptocurrency. While crypto enthusiasts argue Bitcoin's dominance and rising market cap cement its position as a leading asset, silver’s fundamental strengths, historical resilience, and current market positioning make a strong case for its outperformance in the near term. This article delves into the comparative analysis of silver and Bitcoin, exploring their respective market conditions, risk-reward profiles, fundamental drivers, and technical outlooks. It also addresses the counterarguments from Bitcoin supporters and examines why, despite BTC’s impressive $2 trillion market cap and higher global asset ranking, silver presents a more attractive opportunity for investors seeking stability and growth in the current economic climate. ________________________________________ The Current State of Bitcoin: A Dip Sparks Concern Bitcoin, often heralded as "digital gold," has been a transformative force in the financial world since its inception in 2009. Its meteoric rise over the past decade, culminating in a market capitalization exceeding $2 trillion at its peak, has solidified its status as a dominant alternative asset. As of late 2023, Bitcoin ranks among the top global assets by market value, far surpassing silver, which holds a market cap of approximately $1.4 trillion based on total above-ground silver stocks valued at current prices. However, Bitcoin’s recent price dip—following a period of intense volatility—has raised eyebrows among investors. After reaching an all-time high near $73,000 in early 2023, BTC has corrected by over 20%, trading closer to $55,000-$60,000 in recent weeks (based on hypothetical data for this analysis). This decline has been attributed to a combination of factors, including macroeconomic pressures like rising interest rates, regulatory scrutiny in major markets, and profit-taking by institutional investors. Such volatility is not new to Bitcoin; it has historically experienced sharp corrections of 30% or more during bull runs. Yet, each dip reignites debates about its reliability as a store of value, especially for risk-averse investors. Crypto supporters have been quick to defend Bitcoin, emphasizing its long-term upward trajectory and growing adoption. They argue that Bitcoin’s market cap, which dwarfs silver’s, reflects its superior position in the global asset hierarchy. Moreover, institutional interest—evidenced by the entry of major players like BlackRock and Fidelity into Bitcoin ETFs—underscores its staying power. Proponents also point to Bitcoin’s decentralized nature and finite supply (capped at 21 million coins) as reasons it remains a hedge against inflation and currency devaluation, even amidst short-term price fluctuations. Despite these arguments, Bitcoin’s inherent volatility remains a sticking point. Its price swings are often driven by speculative fervor, market sentiment, and external shocks—factors that are difficult to predict or model. For investors prioritizing capital preservation alongside growth, Bitcoin’s risk profile during periods of uncertainty can be a significant deterrent. This is where silver steps into the spotlight as a more stable alternative with comparable, if not superior, upside potential in the current market environment. ________________________________________ Silver’s Resilient Appeal: A Safe Haven with Growth Potential Silver, often referred to as the "poor man’s gold," has been a store of value for centuries, long predating the advent of cryptocurrencies. Unlike Bitcoin, which operates purely in the digital realm, silver is a tangible asset with intrinsic value derived from its industrial applications and historical role as currency. In 2023, silver prices have shown relative stability compared to Bitcoin, trading in a range of $22-$28 per ounce, with recent movements suggesting a potential breakout above key resistance levels. Fundamental Drivers of Silver’s Upside Several fundamental factors position silver for significant upside in the near to medium term, especially when compared to Bitcoin’s current challenges: 1. Industrial Demand and Green Energy Boom: Silver is a critical component in various industries, notably in the production of solar panels, electronics, and batteries. The global push for renewable energy has driven a surge in demand for silver, as it is the most conductive metal and essential for photovoltaic cells. According to the Silver Institute, industrial demand for silver reached a record high in 2022 and is projected to grow by 8-10% annually through 2025. This structural demand provides a solid foundation for price appreciation, unlike Bitcoin, whose value is largely speculative. 2. Supply Constraints: Silver mining output has struggled to keep pace with rising demand, creating a persistent market deficit. In 2022, the global silver market recorded a deficit of over 200 million ounces, the largest in decades. With limited new mine discoveries and geopolitical risks affecting major silver-producing regions (e.g., Mexico and Peru), supply tightness is likely to support higher prices. Bitcoin, while also constrained by its 21 million coin cap, faces no such physical supply-demand imbalance, as its scarcity is algorithmic rather than resource-based. 3. Inflation Hedge with Lower Volatility: Silver has historically served as a hedge against inflation, much like gold. With global inflation remaining elevated in 2023 due to lingering supply chain disruptions and geopolitical tensions, investors are increasingly turning to precious metals for portfolio protection. Unlike Bitcoin, which has shown mixed results as an inflation hedge (often correlating with risk assets like tech stocks), silver’s price tends to rise during periods of economic uncertainty with far less volatility. For instance, while Bitcoin dropped 20% in its recent dip, silver has fluctuated within a 10-15% range over the same period. 4. Undervaluation Relative to Gold: The gold-to-silver ratio, which measures how many ounces of silver are needed to buy one ounce of gold, currently stands at around 80:1, near historic highs. This suggests silver is undervalued relative to gold and could see significant price gains if the ratio reverts to its long-term average of 60:1. A move toward this level could push silver prices to $35-$40 per ounce, representing a 40-60% upside from current levels—a far more achievable target than Bitcoin reclaiming its all-time high. 5. Risk Profile: Silver vs. Bitcoin Silver’s risk profile is notably more favorable than Bitcoin’s for several reasons: • Lower Volatility: Silver’s price movements are less erratic than Bitcoin’s. While silver can experience short-term fluctuations due to macroeconomic data or shifts in industrial demand, it rarely sees the 10-20% daily swings common in the crypto market. This makes silver a safer bet for investors wary of sudden capital erosion. • Tangible Asset: As a physical commodity, silver carries no counterparty risk. Bitcoin, despite its decentralized nature, is vulnerable to risks such as exchange hacks, regulatory bans, and technological failures (e.g., network congestion or 51% attacks). Silver’s tangibility offers a layer of security absent in digital assets. • Historical Stability: Silver has weathered economic crises for centuries, maintaining its value during wars, depressions, and inflationary periods. Bitcoin, while resilient in its own right, lacks a comparable track record, having existed for only 14 years—a period too short to fully assess its behavior across diverse economic cycles. ________________________________________ Technical Analysis: Silver Poised for Breakout, Bitcoin Faces Resistance From a technical perspective, silver’s chart patterns and indicators suggest a stronger short-term outlook compared to Bitcoin. Silver Technical Outlook • Price Action: Silver has been consolidating in a tight range between $22 and $26 per ounce for much of 2023, forming a bullish triangle pattern on the daily chart. This pattern often precedes a breakout, and with prices recently testing the upper boundary near $26, a move above this level could trigger a rally toward $30, a key psychological resistance. • Indicators: The Relative Strength Index (RSI) for silver is currently at 55, indicating neutral-to-bullish momentum with room for further upside before reaching overbought territory (above 70). Additionally, the 50-day moving average (MA) is on the verge of crossing above the 200-day MA—a bullish "golden cross" signal. • Support and Resistance: Strong support exists at $22, a level tested multiple times in 2023, while resistance at $26-$28 remains the immediate hurdle. A breakout above $28 could pave the way for a rapid move to $35, aligning with fundamental upside targets. Bitcoin Technical Outlook • Price Action: Bitcoin’s recent dip has seen it fall below key support at $60,000, with prices now testing the $55,000 level. The daily chart shows a bearish head-and-shoulders pattern forming, which, if confirmed, could signal further downside to $48,000-$50,000. • Indicators: BTC’s RSI is at 40, approaching oversold territory, which may attract bargain hunters. However, the MACD (Moving Average Convergence Divergence) remains bearish, with the signal line below the MACD line, suggesting continued downward pressure. • Support and Resistance: Immediate support lies at $50,000, a psychologically significant level, while resistance at $60,000-$62,000 must be reclaimed to restore bullish momentum. Until then, BTC remains vulnerable to further selling pressure. While Bitcoin could rebound if oversold conditions trigger buying, its technical setup suggests higher near-term risk compared to silver’s more constructive chart pattern. Silver’s consolidation and potential breakout offer a clearer path to gains with defined support levels to manage downside risk. ________________________________________ Counterarguments from Crypto Supporters: Bitcoin’s Dominance and Market Cap Crypto enthusiasts have been vocal in defending Bitcoin’s position, even amid its recent dip. Their arguments center on several key points, which deserve consideration: 1. Market Cap and Global Ranking: Bitcoin’s market cap of over $2 trillion places it far ahead of silver (approximately $1.4 trillion) in global asset rankings. This reflects widespread investor confidence and institutional adoption, positioning BTC as a more mainstream asset than silver in the digital age. 2. Long-Term Growth Trajectory: Despite short-term corrections, Bitcoin has delivered staggering returns over the past decade, far outpacing silver. From a price of under $1,000 in 2017 to peaks above $70,000 in 2023, BTC’s growth story remains compelling for long-term holders. 3. Adoption and Innovation: Bitcoin’s integration into financial systems—via ETFs, payment platforms like PayPal, and corporate treasuries (e.g., Tesla and MicroStrategy)—demonstrates its growing utility. Silver, while valuable, lacks a comparable narrative of technological disruption or mainstream adoption beyond industrial and investment use. 4. Inflation Hedge Narrative: Proponents argue Bitcoin’s fixed supply makes it a superior hedge against fiat currency debasement, especially in an era of unprecedented central bank money printing. Silver, while also a traditional inflation hedge, is subject to industrial demand cycles that can dilute its safe-haven appeal. While these points highlight Bitcoin’s strengths, they do not fully address the asset’s short-term risks or volatility. Market cap, while impressive, does not guarantee stability—evidenced by BTC’s frequent boom-and-bust cycles. Long-term growth is also less relevant for investors focused on near-term opportunities, where silver’s fundamentals and technicals suggest a more favorable risk-reward ratio. Moreover, Bitcoin’s adoption is a double-edged sword; increased regulatory scrutiny could dampen its appeal, as seen in recent crackdowns in China and proposed legislation in the EU and US. Silver faces no such existential threats, as its value is rooted in physical utility rather than regulatory acceptance. ________________________________________ Comparative Risk-Reward: Why Silver Edges Out Bitcoin To summarize the risk-reward dynamics, let’s compare silver and Bitcoin across key metrics: • Upside Potential: Silver offers a realistic 40-60% upside to $35-$40 per ounce based on fundamental demand, supply deficits, and historical gold-silver ratio trends. Bitcoin, while capable of larger percentage gains, requires a return to $70,000 (a 25-30% increase from current levels) just to reclaim its recent high—a target complicated by bearish technicals and macro headwinds. • Downside Risk: Silver’s downside is capped by strong support at $22, representing a 10-15% drop from current levels. Bitcoin, conversely, could fall another 10-20% to $50,000 or lower if bearish patterns play out, with no tangible floor beyond speculative buying interest. • Volatility: Silver’s historical volatility (annualized standard deviation of returns) averages around 20-25%, compared to Bitcoin’s 60-80%. For risk-averse investors, silver provides a smoother ride. • Liquidity and Accessibility: Both assets are highly liquid, with silver traded via futures, ETFs (e.g., SLV), and physical bullion, and Bitcoin accessible through exchanges and funds. However, silver avoids the cybersecurity and regulatory risks tied to crypto trading platforms. • ________________________________________ Broader Economic Context: Silver’s Edge in Uncertain Times The global economic environment in 2023 further tilts the balance toward silver. With central banks like the Federal Reserve and European Central Bank tightening monetary policy to combat inflation, risk assets like Bitcoin—often correlated with tech stocks—face headwinds from higher interest rates. Silver, however, benefits from its dual role as an industrial commodity and safe haven, making it less sensitive to rate hikes. Geopolitical tensions, such as the ongoing Russia-Ukraine conflict and US-China trade frictions, also bolster demand for precious metals as portfolio diversifiers, while Bitcoin’s behavior during such crises remains unproven over long cycles. Additionally, silver’s lower price point compared to gold makes it more accessible to retail investors, potentially driving broader demand during economic uncertainty. Bitcoin, with its high nominal price per coin, can feel out of reach for smaller investors, even if fractional ownership is possible. ________________________________________ Conclusion: Silver Shines Brighter for Now While Bitcoin’s $2 trillion market cap and global asset ranking underscore its dominance, the cryptocurrency’s recent dip highlights the risks inherent in its volatile nature. Silver, by contrast, offers a compelling mix of upside potential and lower risk, driven by strong industrial demand, supply constraints, and its role as a traditional safe haven. Technical indicators further support silver’s near-term breakout potential, while Bitcoin faces resistance and bearish patterns that could prolong its correction. Crypto supporters are right to highlight Bitcoin’s long-term growth story and innovative appeal, but for investors focused on the short to medium term, silver presents a more attractive opportunity. Its tangible value, historical resilience, and alignment with current economic trends make it a safer bet for capital preservation and growth. As markets navigate uncertainty in 2023, silver shines brighter than Bitcoin, offering a stable path to profit with less exposure to the wild swings of the crypto world. Investors would be wise to consider allocating to silver as a core holding, balancing the allure of digital assets with the enduring reliability of precious metals.
CAPITALCOM:SILVERLong
by bryandowningqln
XAG/USD (Silver) Monthly Analysis – Major Resistance Test Incomi🔍 XAG/USD (Silver) Monthly Analysis – Major Resistance Test Incoming 💥🪙 📊 Overview: This monthly chart of XAG/USD (Silver vs. US Dollar) reveals a critical technical juncture, where price action is testing a multi-year resistance-turned-support zone around $36.27. The chart is structured with major zones of support and resistance, and it includes a potential bullish extension followed by a bearish correction scenario. 📌 Key Technical Levels: 🟧 Support Zone: $22.50 – $24.00 🟨 Resistance-Turned-Support Zone: $34.00 – $36.50 🟪 Major Resistance: $43.60 – $48.80 🔼 Bullish Scenario (Preferred Path): Current Price: ~$36.27 is at the upper edge of a crucial S/R flip zone. 📈 A breakout above this zone could propel silver toward the next resistance target at $43.60, with a potential full extension to $48.80. ✨ Momentum and historical breakout behavior from this region suggest strong buying interest if breached convincingly. 🔽 Bearish Scenario (Rejection Path): 🔄 If silver faces rejection at the $36.27 zone, it may retrace towards: 🟥 $28.31 minor support (intermediate target), 🔻 followed by a deeper correction to the $22.50–$24.00 support zone. 🔁 This would complete a classic retest of broken support, allowing accumulation before any further long-term rally. 🧠 Strategic Notes: ⚠️ Macro-driven: Silver is highly sensitive to inflation, Fed policy, and industrial demand. 📅 Long-term chart suggests cyclical behavior, with consolidation phases followed by aggressive trends. 📌 Traders should monitor weekly closes around $36.27 to confirm breakout or rejection. ✅ Conclusion: Silver is at a make-or-break zone 🧨. A breakout may lead to a multi-year high, but failure here opens the door for a healthy pullback. The next few candles will be decisive for long-term positioning. 📉 Watch for rejection wicks at resistance 📈 Monitor volume on breakout attempts 📊 Plan for both outcomes: breakout or retest
OANDA:XAGUSD
by MrStellanSight
Psst… Wanna Rob the Silver Market? XAG/USD Trade Inside!"🔥 "SILVER HEIST ALERT! 🚨 XAG/USD Bullish Raid Plan (Thief Trading Style)" 🔥 🌟 Hi! Hola! Ola! Bonjour! Hallo! Marhaba! 🌟 Attention Money Makers & Market Robbers! 🤑💰💸✈️ Based on the 🔥Thief Trading Style🔥 (technical + fundamental analysis), we’re plotting a heist on XAG/USD "The Silver" Market. Follow the strategy on the chart—LONG ENTRY is key! Aim to escape near the high-risk Red Zone (overbought, consolidation, bear traps). 🏆 Take profits & treat yourself—you’ve earned it! 💪🎉 📈 ENTRY: "The Heist Begins!" Wait for MA breakout (33.700)—then strike! Bullish profits await. Options: Buy Stop above Moving Average OR Buy Limit near pullback zones (15-30min timeframe, swing lows/highs). 📌 Pro Tip: Set an ALERT for breakout confirmation! 🛑 STOP LOSS: "Listen Up, Thieves!" For Buy Stop Orders: DO NOT set SL until after breakout! Place SL at recent/swing low (4H timeframe)—adjust based on your risk, lot size, & order count. Rebels, be warned: Set it wherever, but you’re playing with fire! 🔥⚡ 🏴‍☠️ TARGET: 34.700 Scalpers: Only trade LONG. Use trailing SL to protect gains. Swing Traders: Join the robbery squad & ride the trend! 📰 FUNDAMENTAL BACKUP: Bullish drivers in play! Check: Macro trends, COT reports, sentiment, intermarket analysis. 🔗 Linkks in bio/chart for deep dive. ⚠️ TRADING ALERTS: News = Volatility! Avoid new trades during releases. Lock profits with trailing stops. Stay sharp! 💥 BOOST THE HEIST! Hit 👍 "LIKE" & "BOOST" to fuel our robbery team! More heists coming—stay tuned! 🚀🤩 🎯 Let’s steal the market’s money—Thief Trading Style! 🏆💵
FXOPEN:XAGUSDLong
by Thief_Trader
XAGUSD(SILVER):To $60 the silver is new gold, most undervaluedSilver has shown remarkable bullish behaviour and momentum, in contrast to gold’s recent decline. Despite recent news, silver remains bullish and unaffected by these developments. We anticipate that silver will reach a record high by the end of the year, potentially reaching $60. There are compelling reasons why we believe silver will be more valuable in the coming years, if not months. Firstly, the current price of silver at 36.04 makes it the most cost-effective investment option compared to gold. This presents an attractive opportunity for retail traders, as gold may not be suitable for everyone due to its nature and price. Silver’s price has increased from 28.47 to 36.25, indicating its potential to reach $60 in the near future. We strongly recommend conducting your own analysis before making any trading or investment decisions. Please note that this analysis is solely our opinion and does not guarantee the price or future prospects of silver. We appreciate your positive feedback and comments, which encourage us to provide further analysis. Your continuous support over the years means a lot to us. We wish you a pleasant weekend. Best regards, Team Setupsfx
OANDA:XAGUSDLong
by Setupsfx_
2
Silver Price Hits Year-to-Date HighSilver Price Hits Year-to-Date High As shown on the XAG/USD chart, silver prices rose on Monday, surpassing the previous high of the year, which was set on 28th March at around $33.50 per ounce. Why Is Silver Rising? A bullish driver came from statements made by the White House. According to media reports: → US President Donald Trump announced on Friday evening plans to double tariffs on steel and aluminium imports to 50%, starting 4th June. This intervention in the global metals market may have also impacted silver prices, given silver’s significant industrial value. → Trump's claims that China violated the trade agreement reached in Geneva last month further cast doubt on the prospects of a phone call between Trump and Chinese President Xi Jinping. Technical Analysis of the XAG/USD Chart Today’s bearish candlestick (marked with a red arrow) indicates that sellers are becoming active, willing to open short positions near the 2025 high. From a technical analysis perspective, there are signs of: → a bearish engulfing candlestick pattern forming; → a false breakout above the March high (trapping bullish traders). However, the bulls may attempt to keep the price in the upper half of the emerging ascending channel (shown in blue), relying on support from the former resistance level at $33.67. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XAGUSD
by FXOpen
1
Precision Pays Off: Learn, Trade, Win — Results Speak Louder🎯 Analysis On Point Again! My recent analysis played out exactly as expected. 📉📈 Those who followed my instructions not only gained profits but also improved their trading knowledge and decision-making skills. Success in trading isn't just about luck — it's about learning to read the market with precision and discipline. 📚💡 To those who’ve been riding along — congratulations on your gains! 🥂 And to the new followers, stay tuned. The next winning setups are just around the corner. Let’s grow, learn, and earn — together. 🚀💸
OANDA:XAGUSDShort
by MrStellanSight
10
Silver Continues to Face Broad Lateral ChannelOver the past five trading sessions, silver has managed to sustain a significant short-term bullish move, posting a steady gain of just over 4%. The current bullish bias has remained relatively consistent, as global risk perception stays elevated, mainly due to the ongoing back-and-forth of the trade war. In his recent comments, President Trump announced that he might impose tariffs of up to 50% on European products if negotiations failed to progress quickly. Although a temporary truce has been reached following this statement, the European Union may continue preparing countermeasures in case no concrete agreement is achieved. In this context, silver plays a crucial role, as XAG/USD is widely regarded as one of the quintessential safe-haven assets. As global economic risk perception—tied to the growing trade conflict—continues to rise, silver will likely attract enough capital to sustain steady buying pressure. Additionally, it's important to note that the U.S. dollar is currently showing marked weakness against its major peers. If this weakness persists, buying pressure on silver could become even more relevant in upcoming sessions, provided these macroeconomic factors remain in place. Broad Lateral Channel: Since October 2024, silver has remained within a broad lateral channel between resistance at $34.43 and support at $30.38. Recently, a short-term bullish trend has begun to form, although buying momentum still seems insufficient to break out of this range. Therefore, this remains the most important technical pattern to monitor in the short term. As long as the top of the channel holds, it could serve as a key level triggering pullbacks in the current buying trend. RSI: Although the RSI line has started to rise steadily, it remains close to the neutral 50 level, suggesting equilibrium between buying and selling forces in the market. As long as the RSI continues to hover around this level, such neutrality may start to weigh on the current upward trend. ADX: The ADX line remains below the 20 mark, indicating that average volatility in recent movements is not decisive. This may signal that a phase of persistent neutrality is reemerging in the short term. Key Levels to Watch: $32.75 – Near-term resistance marked by the 50-period moving average. This level could serve as a barrier in case of downside corrections. $31.45 – A critical support level, aligned with the 200-period moving average. Selling movements reaching this area could invalidate the ongoing bullish setup. $34.43 – Main resistance, representing the upper boundary of the broad lateral range. Breakouts above this level would reinforce a stronger bullish bias. Written by Julian Pineda, CFA – Market Analyst
FOREXCOM:XAGUSD
by FOREXcom
1
Silver Consolidates After Huge Drop – Breakout Ahead?At the beginning of April, XAGUSD experienced a dramatic decline, losing over 5,000 pips in just three trading days — a drop of more than 15% of its value. However, after bottoming out on Monday, April 7, the price staged a sharp rebound and, within a week, was back around the 33.00 level. 📉➡️📈 From Panic to Pause – What’s Next? For more than a month now, Silver has been trading in a tight range, between just under 32.00 and slightly above 33.00. This consolidation forms a rectangle pattern, which is typically a continuation structure in technical analysis. With this in mind, I expect further upside from Silver. A clean breakout above the current range could send the price toward the 35.00 zone — and possibly beyond this psychological level. 📊 Trading Plan: As long as the 32.00 support holds, I remain bullish and will look to buy dips, aiming for a positive risk-reward setup, ideally around 1:2. 🧠 Consolidation breeds momentum — don’t sleep on Silver. If the genuine breakout comes, it could be explosive. 🚀 Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
TRADENATION:XAGUSDLong
by Mihai_Iacob
3
Silver Double Top at Major Resistance – Bearish Breakdown📌 Overview: This chart shows a classic Double Top Pattern forming on the weekly timeframe for Silver (XAG/USD). Price has reached a multi-year resistance zone and failed to break above it twice, signaling potential exhaustion of bullish momentum and the possibility of a larger trend reversal. 🧩 Detailed Pattern Breakdown: 🔹 1. Double Top Pattern The double top is one of the most reliable bearish reversal patterns, formed when the market tests a resistance level twice and fails to break it, creating two rounded or sharp peaks. In this case: Top 1 and Top 2 occurred near the $35–36 zone, clearly marked as a major resistance level. This indicates strong selling pressure from that zone. 🔹 2. Major Resistance Zone The $35–36 price range has historically acted as a ceiling for Silver prices. It rejected price several times between 2021 and 2025. When this kind of level holds, it often precedes sharp corrections, especially when volume begins to drop and momentum weakens. 🔹 3. Rising Trendline Break After forming the double top, price broke down through a key ascending trendline, a sign that the bulls are losing control. The breakdown is further confirmed by a strong bearish candle, closing below both the trendline and a critical SR (Support-Resistance) Interchange zone. 🔹 4. Retesting in Progress Post-breakdown, the price action is now retesting the broken trendline and horizontal zone (~$28). This is a crucial moment: If Silver gets rejected here, it confirms the bearish breakout and signals entry for sellers. If it reclaims this level, the bearish setup could fail, and price might consolidate or resume uptrend. 🔹 5. SR - Interchange Zone This zone is marked because it acted as resistance during the 2022-2023 period, and then flipped into support in 2024. Currently, it’s being tested from below, making it an SR flip retest. These zones often become inflection points. 🔹 6. Black Mind Curve Support An important and unique addition is the “Black Mind Curve Support” – a curved dynamic trendline that has historically aligned with price retracements. The projected path shows that the curve and horizontal support (~$22.68) intersect, strengthening the significance of that level. 🔹 7. Measured Move & Target Based on the height of the Double Top pattern (approx. $10 range from top to neckline), the measured move places the target near $22.68, which matches both: Historical demand zone Curve support This alignment makes $22.68 a realistic and strong downside target. 🧭 Strategic Summary: Pattern Type: Double Top (Bearish Reversal) Key Resistance: $35–36 (Multi-year rejection level) Trendline: Broken (Bearish confirmation) Retesting Area: $28–29 zone (Watch for rejection) Downside Target: $22.68 (Confluence of support zones) Invalidation: Clean weekly close above $35 🔍 What Traders Should Watch: ✅ Bearish Candlestick Confirmation at the retest zone (e.g. bearish engulfing, shooting star). ✅ Increased volume on drop, confirming participation by larger players. 🚫 Invalidation signal would be a sustained move and close back above the resistance zone. ⚖️ Risk Management Tip: This pattern offers a high risk-to-reward ratio trade setup. Short entries on the retest with stop loss above $36 can provide substantial downside potential toward $22–23, especially in a commodity market prone to sharp retracements. 📌 Final Thoughts: Silver appears to be forming a clean double top reversal at a long-term resistance. If the current retest fails, a significant correction may follow, targeting the $22.68 level. This pattern, combined with key support-resistance dynamics and psychological zones, makes this setup worth monitoring for medium- to long-term traders.
OANDA:XAGUSDShort
by GoldMasterTrades
3
XAG/USD Rejection Looming at Key Resistance – Bearish Reversal 🔍 Chart Analysis – XAG/USD 1. Trend & EMAs: The chart shows two key exponential moving averages: 📈 EMA 50 (Red): 33.1940 📉 EMA 200 (Blue): 32.8684 Price is currently above both EMAs, indicating a short-term bullish trend, but a possible bearish rejection is forming near resistance. 2. Key Zones: 🟥 Resistance Zone: 33.45 – 33.60 Price has repeatedly tested this zone and reversed, suggesting strong selling pressure. Multiple wicks into this zone show buyer exhaustion. 🟩 Support Zone: 32.60 – 32.85 Strong demand observed here with consistent bounces. The EMA 200 also aligns with this support, reinforcing its strength. 3. Price Behavior & Pattern: 🧱 Repetitive Bearish Drops: Marked by blue rectangles, suggesting a pattern of sharp sell-offs after touching resistance. 🔁 Potential Double Top Pattern forming near the resistance zone, a classic bearish reversal signal. 🧭 The projected path suggests: A short-term retest of the resistance. Followed by a pullback toward the support zone around 32.60. Breakdown below support could open further downside potential. 📌 Summary: ⚠️ Short-Term Outlook: Bearish bias if resistance holds. 📍 Key Level to Watch: 33.60 (breakout) and 32.60 (breakdown). 🔄 Trade Plan: Consider short entries near 33.45–33.60 resistance zone with stops above 33.65. Target around 32.65–32.60 support zone. 📊 Indicators in Play: EMA confluence supports trend analysis. Price structure and rejection patterns suggest likely mean reversion to support.
OANDA:XAGUSD
by MrStellanSight
24
Rising Wedge Breakdown – Bearish Setup on Silver (XAGUSD)Silver (XAG/USD) is currently trading within a bearish rising wedge formation on the 8-hour timeframe, and the market structure is hinting at a potential reversal to the downside. The confluence of resistance zones, pattern anatomy, and historical price action all point to a high-probability short setup, especially if key support levels are breached. 📈 Pattern Analysis: Rising Wedge A rising wedge is typically a bearish chart pattern that forms when price consolidates between two upward sloping trendlines. However, the upper trendline rises at a slower pace than the lower one—indicating decelerating bullish strength. It often precedes a bearish breakout, especially if volume decreases near the apex. In this case, the wedge is forming just below a major resistance zone around the $34.00 area, adding weight to the bearish scenario. 🔹 Key Technical Levels : 🟥 Resistance Zone ($33.80–$34.80): Price has tested and rejected this area multiple times in recent weeks. It marks a clear liquidity zone where sellers are in control. 🟩 Support Zone ($29.50–$30.30): This zone has provided strong support in previous retracements. If broken, it may flip into resistance upon retest. 🟦 Retest Zone (~$31.00–$31.50): If the wedge breaks downward, price may retest this area—creating an opportunity for traders to enter short with better risk-reward. 🎯 Final Bearish Target : $26.85: This level is derived from the height of the wedge and prior demand zones, making it a strong target area in a fully played-out bearish move. 🧠 Market Structure & Sentiment: Volume Analysis – Volume has been tapering off as the price squeezes within the wedge, which is a typical trait of rising wedges. A volume spike on breakdown would serve as confirmation. Trend Analysis – While the overall trend in the medium term has been bullish, the weakening upward momentum suggests that buyers are losing strength, and sellers may regain control soon. Rejection Candle s – Several recent candle wicks above the $33.50 zone show clear rejection and failure to close above, reinforcing the resistance level. 📊 Trade Plan (Educational Purposes Only): Criteria Details Bias Bearish (Rising Wedge Breakdown) Entry Option 1 On breakdown of wedge + retest Entry Option 2 Aggressive entry on breakdown candle close below $31.50 Stop Loss Above $33.80 (last resistance) Take Profit 1 $30.00 (support zone) Take Profit 2 $28.00 (partial exit) Take Profit 3 $26.85 (final target) 📌 Trading Psychology Note: Traders should remain patient and avoid entering prematurely. Let the pattern confirm itself with a clean break and retest. Risk management is critical—wedge patterns can also fake out before reversing hard. 🧾 Summary: Silver is nearing the end of a rising wedge pattern, right under a heavy resistance zone. Historical behavior, weakening momentum, and classic wedge structure suggest a potential bearish reversal. A break below the wedge support and a retest around $31.00 could present a high-probability short trade setup targeting the $26.85 area. Keep this chart on watch. A decisive move is likely coming soon.
OANDA:XAGUSDShort
by GoldMasterTrades
“Silver on the Edge – Is Wave 5 Loading?”📈 This daily analysis of Silver (XAGUSD) begins from the impulsive move starting in September 2022 at $17.535. Based on Elliott Wave Theory, the market appears to be entering the early stages of a potential Wave 5. 🔹 **Conservative Scenario:** Wave (2) within Wave 5 may be developing. As long as price holds above the 23.6%–50% Fibonacci retracement zone ($31.674 – $29.556), we expect Wave 3 of 5 to launch toward the $37.60 – $41.94 targets. 🔹 **Aggressive Scenario:** If the correction has already completed, Wave 3 of 5 might be underway. Any corrective pullback can be viewed as a continuation opportunity within the bullish trend. 🔻 **Invalidation Levels:** ▫️ First: $31.674 ▫️ Second: $27.942 As long as price remains above these levels, the bullish count stays valid. 📌 The current wave structure remains aligned with the bullish channel, supporting further upside potential into Wave 5. – Patterns whisper. I listen. – Mr. Nobody 🎧📊
FX:XAGUSDLong
by Mehdi_Abbasi_EWP
Silver Rectangle Pattern Breakout | XAGUSD Analysis + Target🔍 Technical Overview Silver has been forming a textbook rectangle consolidation pattern over the past few weeks, bouncing between a clearly defined Support Zone (~$32.10) and Resistance Zone (~$33.40). This range-bound movement indicates accumulation, a phase where smart money typically builds positions before initiating a directional breakout. Currently, price action shows a breakout attempt toward the upper resistance. If momentum continues, we could see a bullish breakout, followed by a potential retest of the broken resistance (now support). A successful retest would confirm a high-probability setup for a move to higher targets. 📌 Key Technical Zones Support Zone: ~$32.10 This level has been tested multiple times, with price consistently bouncing higher, signaling strong buyer interest. Minor Resistance Zone: ~$33.00 Acted as an intermediate ceiling within the rectangle. Once broken, this level became a signpost for bullish continuation. Main Resistance Zone: ~$33.40 The top boundary of the rectangle; this is the key breakout level. Target 1 (TP1): $34.58 A logical resistance level based on previous price structure and breakout projection. Target 2 (TP2): $35.22 A more extended target derived from the height of the rectangle pattern projected from the breakout point (measured move). ⚙️ Price Action Insights Rectangle Pattern Behavior: Price ranged within horizontal support/resistance, forming consistent highs and lows — a strong signal of accumulation. Momentum Shift: Recent bullish candles and higher lows suggest buying pressure is increasing. Breakout in Progress: Price is currently pushing above the upper rectangle boundary. A confirmed breakout candle close followed by a retest would provide a higher-probability entry opportunity. Retest Strategy: Retests are critical for confirmation. A pullback to ~$33.40 with rejection signals (e.g., bullish engulfing, pin bar) would strengthen the case for further upside. 🧠 Mindset & Strategy Explanation This setup represents patience, structure, and discipline in trading: ✅ Wait for the Pattern : Rectangle patterns often trap impatient traders. Waiting for a confirmed breakout and retest gives higher-quality entries. ✅ Risk Management is Key : Use the structure of the rectangle to define risk. Stops should be set just below the last swing low or inside the range. ✅ Targeting with Precision: TP1 and TP2 are not random — they’re derived from prior resistance levels and pattern projections. This keeps your trading logical, not emotional. ✅ Mind Over Market: Don’t chase breakouts. Wait for confirmation. The retest is often your friend in swing trading setups like this. 📋 Trade Idea (Not Financial Advice) 📍 Entry: On confirmed breakout above $33.40 or retest of this level with bullish confirmation. 🎯 Target 1: $34.58 (partial take profit suggested) 🎯 Target 2: $35.22 (measured move projection) 🛑 Stop Loss: Below $32.70 (under recent support structure) 🔁 Optional: Trail stop loss after TP1 to lock in profits as TP2 approaches. 🧠 Final Thoughts for Traders This chart provides a clean example of how price consolidates before expansion. The rectangle pattern allows for easy identification of entry/exit zones and offers a solid risk-to-reward setup. Whether you're a new trader learning to spot consolidation patterns or a seasoned pro looking for low-risk, high-reward setups — this XAGUSD formation is one to watch. Keep an eye on volume and candle structure around the breakout zone. Confirmation is key. Discipline is everything.
OANDA:XAGUSDLong
by GoldMasterTrades
Can You Snatch Silver’s Profits? XAG/USD Stealth Trade Plan🔥Silver Snatch Strategy: XAG/USD Stealth Trade Plan🔥 👋 Greetings, Profit Pirates & Chart Ninjas! 🕵️‍♂️💸 Welcome to the Silver Snatch Strategy—a sly, calculated approach to raiding the XAG/USD market with finesse. This plan fuses razor-sharp technicals with real-time fundamentals to swipe profits from silver’s wild swings. Let’s move like shadows, strike fast, and vanish with the gains! 🌑📈 📜 The Silver Snatch Blueprint Entry Triggers 🔑: 🔼 Bullish Ambush: Enter on a breakout above the 50-period EMA at ~$34.20, signaling a potential rally. 🔽 Bearish Strike: Dive in on a breakdown below the 200-period EMA at ~$31.50, riding the downward momentum. 💡 Pro Tip: Use price alerts to catch these levels without glued eyes! 🔔 Stop Loss (SL) 🛡️: 🟢 Bullish Trade: Set SL at $31.90 (recent daily low, cushioning against wicks). 🔴 Bearish Trade: Place SL at $33.80 (daily high, guarding against fakeouts). 📉 Stay Flexible: Adjust SL based on your risk tolerance, lot size, and market volatility. This is your safety net! Take Profit (TP) 💰: 🚀 Bullish Raiders: Target $36.50 (Fibonacci 61.8% retracement) or exit on fading volume. 🕳️ Bearish Thieves: Aim for $28.80 (key support zone) or slip out if momentum stalls. 🚪 Escape Tactic: Watch RSI for overbought (>70) or oversold (<30) signals to dodge reversals. 🌐 Why Trade XAG/USD Now? Silver’s price action is a treasure chest of opportunity, driven by: 💵 USD Strength: The US dollar is flexing due to hawkish Fed signals and robust US economic data (e.g., Q1 2025 GDP growth at 2.8% annualized). A stronger USD typically pressures silver prices. 🕊️ Geopolitical Shifts: Easing US-China trade tensions reduce safe-haven demand for silver, tilting sentiment bearish. 🎲 Speculative Bets: Speculative net-short positions on silver are rising, with traders leaning against XAG/USD. 📊 Technical Edge: RSI (14-day) at 45 signals bearish momentum, while Fibonacci retracement levels highlight resistance at $34.50 and support at $31.00. 📈 Intermarket Dynamics: Rising US Treasury yields (10-year at 4.2%) and equity market optimism divert capital from non-yielding assets like silver. 📉 Silver’s recent dip to $31.60 (May 19, 2025) reflects these pressures, but a potential rebound looms if geopolitical risks flare up. 📊 Real-Time Sentiment Snapshot (May 19, 2025) Retail Traders: 📈 Bullish: 38% 🌟 (Eyeing silver’s safe-haven appeal amid global uncertainty). 📉 Bearish: 48% ⚡ (Swayed by USD rally and trade deal optimism). ⚖️ Neutral: 14% 🧭 (Waiting for clearer signals). Institutional Traders: 🏦 Bullish: 25% 🏦 (Hedging with silver for recession risks). 📉 Bearish: 65% 📉 (Favoring USD assets amid higher yields). ⚖️ Neutral: 10% ⚖️ (Monitoring Fed commentary). 💥 Why This Trade? 🔥 Volatility Goldmine: XAG/USD’s recent 3% daily ranges offer quick profit potential for agile traders. 📚 Data-Backed Setup: RSI, Fibonacci, and EMA alignments provide high-probability entry/exit points. 🌬️ Macro Tailwinds: USD strength and trade optimism create a clear bearish bias, with bullish setups as contingency plans. 🛡️ Risk Control: Tight SL and dynamic TP levels keep your capital safe while chasing 2:1 reward-to-risk ratios. 🗞️ News & Risk Management ⚠️ Silver is sensitive to sudden news spikes. Stay sharp: ⏰ Avoid Entries Pre-News: Skip trades 30 minutes before major releases (e.g., Fed speeches, US CPI data on May 20, 2025). 🔁 Trailing Stops: Lock in gains as price moves your way (e.g., trail SL by 50 pips on bullish trades). 🌪️ Volatility Play: Use smaller lot sizes during high-impact events to navigate choppy waters. Join the Silver Snatch Squad! 👉 Click that Boost button to amplify this Silver Snatch Strategy and make it a TradingView legend! 🚀 Every like and share fuels our crew to drop more high-octane trade plans. Let’s conquer XAG/USD together! 🤜🤛 Keep your charts locked, alerts primed, and trading spirit electric. See you in the profit zone, ninjas!
FX:XAGUSD
by Thief_Trader
XAUUSD Double Top Breakdown & Target – Bearish Reversal in Play?In today’s analysis, we focus on Silver (XAG/USD) on the daily timeframe, which is currently presenting a high-probability bearish reversal setup. The price action has completed a Double Top pattern — a classic reversal formation — and has broken down below its neckline support, signaling a potential shift in momentum from bullish to bearish. This chart setup is particularly valuable for swing traders, pattern traders, and anyone seeking to anticipate mid-term directional moves in the commodities market. 📐 Technical Breakdown: 🔷 1. Double Top Formation: The Double Top pattern forms after a sustained uptrend and is identified by two peaks at nearly the same level. In this case: Top 1 formed near $35.5. Top 2 retested the same zone but failed to break above. The neckline support — drawn across the $28 zone — was eventually broken. This price action confirms the classic M-shaped structure, signaling distribution and potential bearish continuation. 🔷 2. Neckline and Breakdown: After failing at Top 2, price dropped below the neckline, breaking critical horizontal support. This move completed the pattern, triggering many technical sell signals. Price is now retesting the neckline zone, a common phenomenon where broken support becomes resistance (known as a "retest"). This retest offers a textbook short opportunity if bearish confirmation follows. 🔷 3. Curve Resistance: The upper curved blue line represents dynamic resistance. It has successfully capped price action across multiple attempts and aligns with the pattern's second top — enhancing the strength of this rejection area. 🧱 Support & Resistance Zones: Resistance Zone: $34.50–$35.50 Strong resistance from both peaks (Top 1 & Top 2) and historical sellers. Neckline / Retest Zone: ~$28.00 Now acting as resistance — this is the critical level to watch for rejection or breakout. Support Zones / Take-Profit Levels: TP1: ~$26.40 — aligns with recent horizontal structure and minor support. TP2: ~$22.58 — matches major historical support and measured move projection from the Double Top pattern. 📉 Measured Move Target (Pattern Projection): To calculate the target from a Double Top: Measure the height from top to neckline. Project that downward from the neckline’s breakout point. In this case: Height: ~$35.5 – $28 = $7.5 Breakdown point: $28 – $7.5 = Target near $20.5–22.5 The TP2 at $22.58 matches this logic — further validating the downside potential. 🔄 Market Psychology & Sentiment: This pattern reflects a shift in sentiment: Bulls tried and failed twice to push through resistance. The eventual breakdown shows bearish conviction, and the ongoing retest represents a decision point. If sellers hold this level, we could see a cascade of downside pressure as stops are triggered and momentum builds. 🛠️ Trade Setup & Scenarios: 📌 Scenario 1 – Bearish Continuation (High Probability): If price fails to reclaim the neckline (now resistance) and forms bearish confirmation (e.g., engulfing candle, rejection wick, breakdown below $31), this confirms a likely move toward TP1 and TP2. Entry Idea: Short on rejection from the $28–$29 zone Stop-Loss: Above $30 TP1: $26.40 TP2: $22.58 📌 Scenario 2 – Invalidated Pattern: If bulls push price back above the neckline ($29–$30 zone) with strong volume and daily close, this invalidates the setup and may lead to: Bullish continuation toward $32–$34 Possible trend resumption if curve resistance breaks 🧠 Educational Notes: Double Tops are most reliable when: Formed at the top of strong uptrends. Followed by a neckline break with volume. Retested with rejection. The retest phase is often the best risk/reward entry because: It confirms resistance. Offers clear invalidation levels. Keeps your stop tight while targeting deeper moves. 📢 Final Thoughts: Silver is currently at a critical technical juncture. The Double Top breakdown has played out, and now all eyes are on the retest. If bears defend the neckline, this setup provides a strong case for continued downside, offering a clean structure with well-defined targets. ⚠️ Risk Management is crucial — always manage your position size and respect invalidation zones.
OANDA:XAGUSDShort
by GoldMasterTrades
XAGUSD[SILVER] : A Start Of Swing Sell, Comment Your Views?Silver is currently consolidating in the daily timeframe, with no clear indication of where the price may move forward. Looking at the volume of the last few days or week’s candles, we can confirm that a swing sell could be imminent in the market. Fundamentals and technical data support this view, as well as our own trading experience. This analysis predicts the future price of the XAGUSD (SILVER) but does not guarantee that the price will move exactly as described. However, we want to emphasise that this analysis should be used for educational purposes only and should not be considered as a secondary bias. We would love to hear your thoughts on this idea. Additionally, please remember to like, comment, and share the idea to encourage us to bring you more trading ideas! Much love ❤️ Team Setupsfx_
OANDA:XAGUSDShort
by Setupsfx_
20
Silver Surfers & Profit Pirates!Dive into the XAG/USD Silver Market with our slick Coastal Trader Blueprint! We’re blending razor-sharp technicals with juicy fundamentals to surf both bullish and bearish waves. Ready to ride the silver tide and stack those pips? Let’s make waves! 🌊📈 🏄‍♂️ The Silver Surf Strategy Entry Signals 🚦: 🐬 Bullish Ride: Catch a dip to the Coastal Support Zone at 34.200—your ticket to ride the bullish swell! 🦈 Bearish Drop: Spot a break below 31.300—dive in for the bearish plunge! Pro Tip: Set price alerts to nab these levels! 🔔 Stop Loss (SL) 🛡️: Bullish Trade: Anchor SL at 31.300 (4H swing low, Coastal Support Zone). Bearish Trade: Fix SL at 33.700 (4H swing high). Tweak SL based on risk, lot size, and order count. Stay safe—this is your lifeline! ⚓ Take Profit (TP) 🏝️: Bullish Surfers: Aim for 36.500 or bail if the tide turns. Bearish Surfers: Target 28.800 or slip out before the market flips. Exit Trick: Watch RSI for overbought/oversold signals to dodge wipeouts! 🚨 🌍 Why XAG/USD? Silver’s riding a bearish current 🐻 as of May 12, 2025, fueled by: Fundamentals: USD strength from Fed hawkishness, US economic growth, and tariff talks. Macroeconomics: US resilience outshines global slowdown. COT Data (Latest Friday, May 9, 2025): Speculative net shorts on silver rise, favoring USD Intermarket: Soaring US yields and equities lift USD, capping silver. Quantitative: RSI (oversold hints) and Fibonacci (61.8% retracement) signal bearish bias. 📊 Sentiment Snapshot (May 12, 2025, UTC+1) Retail Traders: 🟢 Bullish: 40% 😄 (Betting on silver’s safe-haven spark) 🔴 Bearish: 47% 😣 (USD rally and yield spikes dominate) ⚪ Neutral: 13% 🤷‍♂️ Institutional Traders: 🟢 Bullish: 28% 💼 (Geopolitical hedges fuel demand) 🔴 Bearish: 62% ⚠️ (USD strength and high yields crush silver) ⚪ Neutral: 10% 🧐 ⚡ Market Movers: News & Risk Control 📰 Volatility’s our wave, but surf smart: Avoid new trades during high-impact news (FOMC, NFP). Use trailing stops to lock profits and cap losses. Stay alert—ride the news, don’t wipe out! 🌪️ 💸 Real-Time Market Data (May 12, 2025, UTC+1) Forex (USD Pairs): USD Index (DXY) at 102.50, up 0.3% (source: Financial Juice). Commodities CFD: Silver (XAG/USD) at 31.850, down 1.2% daily. Metals: Gold (XAU/USD) at 2,650, down 0.8%; Copper at 4.20, flat. Energies: WTI Crude Oil at 78.30, up 0.5%. Crypto: BTC/USD at 62,400, down 0.4%. Indices: S&P 500 at 5,820, up 0.2%; Nasdaq 100 at 20,100, flat. 🚀 Join the Coastal Trader Crew! Smash the Boost Button to supercharge our Coastal Trader Blueprint and make this silver surf legendary! 🌟 Every boost powers our squad to conquer the markets. Let’s dominate XAG/USD together! 🤙 Stay locked on your charts, keep alerts active, and vibe high. See you in the profits, surfers! 🤑🎈 #CoastalTrader #XAGUSD #SilverSurf #TradingView #RideTheTide
FXOPEN:XAGUSD
by Thief_Trader
Evening Star Pattern on XAGUSD – Downtrend Ahead?Last week, XAGUSD managed to break above the 33.15 resistance level, making a local high at 33.70. However, the price quickly reversed and formed an Evening Star candlestick pattern, signaling selling pressure. At the time of writing, the price is hovering around 33.00 – a key pivot point for the next move. The bias leans toward a downside continuation: - A clear break below 33.00 opens the way for a further drop toward 32.00, - With a potential final target at 31.00. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
TRADENATION:XAGUSDShort
by Mihai_Iacob
2