Silver could rise to 24.50Like its bigger brother, Gold, Silver also dropped hard these days.
However, looking at price action this week we can see that the drop lacks much momentum and is drawing a falling wedge pattern on our short-term charts.
This could be an indication of a reversal and the 24.50 resistance zone could be the bulls' target.
A new low would negate this scenario
Xagusdanalysis
XAGUSD Trading Plan - 16/May/2023Hello Traders,
Hope you all are doing good!!
I expect XAGUSD to go Down after finishing the correction.
Look for your SELL setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
Silver (XAGUSD) is at support, will it break or hold?Silver price resumed its positive trading to succeed achieving our first waited target at 26.07, facing solid resistance there, to show some expected slight bearish bias, waiting to get positive momentum at 25.87 support that assists to push the price to resume the positive trades and breach the mentioned level to open the way to head towards 26.80 as a next main station, followed by 27.70
The MA50 continues to provide the positive support to the price, to continue suggesting the bullish trend for the upcoming period, noting that breaking 25.87 will put the price under negative pressure to head towards testing 24.50 and 23.90 areas before any new attempt to rise
Is Silver ready to rise again?Since the false break under 18, back in September 2022, Silver has entered a nice up trend and has risen around 40%.
After the recent high of around 26, the price corrected, and after the confirmation of new support in old resistance bulls look ready to take control again.
The next target could be the 27 zone.
Buyers should keep in mind that before both strong reversals, the price has had a false break
XAGUSD - Growth is possible | Market outlookMain scenario
Long positions will become relevant above the level of 24.48 with the targets at 27.00–28.80.
Implementation period: 7 days and more.
Alternative scenario Alternative scenario
The breakdown and the consolidation of the price below the level of 24.48 will let the asset go down to the area of 22.77–21.36.
SILVER Bullish Continuation after Pullback?
Hello Traders,
On the Weekly Chart we have been slowly trending down in a Channel.
20 Day EMA (white line) has crossed up the 20 Weekly EMA (turquoise line).
After break of Weekly Trendline to the upside I am expecting a Pullback to the Trendline or near the 20 Day EMA and then a bullish continuation to 28.000 price range.
PS. Be gentle it´s my first idea. :-) Any Feedback is welcomed.
Silver/XAGUSD end of session updateSilver prices shows positive trades now in attempt to move away from the bullish channel’s support line, reinforcing the expectations of continuing the bullish trend for today, which targets testing 25.30 as a next station.
Therefore, no change to the positive scenario that depends on the price stability above 24.90, as breaking it will force the price to turn to decline and head towards 24.05 before any new positive attempt.
XAGUSD Next MovePair : XAGUSD ( Silver / U.S Dollar )
Description :
Rising Wedge as an Corrective Pattern in Long Time Frame and it has Breakout the Lower Trend Line and Completed the Retracement
Break of Structure
Fibonacci Level - 78.60%
Rejecting from Strong S / R Level
Divergence
Impulse Correction Impulse
Elliot Waves
XAGUSD H1 ZONE MARKING.We have XAGUSD H1 Analysis for Zone Marking.
According to this analysis, we can see the price still running under 200MA & price also tests trendline with selling pressure is a sign of a Selling trend for more confirmation of we market demand & supply zone which is mentioned in the downside
Demand zone3@ 21.356 to 21.426
supply zone1 @ 21.989 to 21.871
supply zone2 @ 22.548 to 22.630
Supply zone3 @ 23.612 to 23.396
Supply zone4 @24.654 to 24.366
With this analysis, you will be able to find your most profitable trade. EnclaveFX does not recommend that you buy or sell this assist. We do not take any responsibility for your profits & losses. EnclaveFX believes in enhancing the knowledge of our clients & followers
XAGUSDWe see a high in the range of 21.845 and higher than the previous high in the range of 21.768. It is expected that if the above oscillatory movement can be supported by the two ranges of 21.551 and 21.672 and the ceiling of the channel in the above analysis can be successfully rejected. He expected to touch two targets in the areas of 22.010 and 22.159.
important points:
1. The confirmation of departure from the current corrective trend can be obtained from the lower fractals.
2. It is not necessary to touch both targets.
3. The range between 2 targets can act as a resistance
XAGUSDWe are witnessing a decreasing trend in a channelized space. We are currently witnessing a negative divergence and we are on a static resistance in the range of 21.76186.
We have 2 scenarios ahead:
1. In case of breaking the resistance, you can experience a growth up to the ranges of 21.86676 and 21.95601 or between them and then continue the decrease up to the specified ranges.
2. It cannot break the resistance, the divergence works and the 3 specified targets of the harmonic patterns that have been completed in the ranges of 21.69113-21.59853-21.52730 can be considered as targets. If all of them fail We have the important range of 21.40745 in the intersection with the B area of the pattern, which is considered a strong resistance.
Silver Bulls Seem Exhausted, Major Correction ExpectedAfter our last target on XAGUSD bullish analysis (see related ideas), the target zone was hit and managed to bounce the price by a $1 i.e. 500 pips. Now, we should be expecting some large frame correction considering the following technical aspects that silver just presented:
1- Weekly Bearish Harami Candle
2- Strong Daily bearish engulfing candle on last Thursday
3- Rising wedge pattern marking bullish exhaustion which marked breakout with the daily bullish engulfing as well
4- Since we strongly bounced from the major supply starting from 24.14, we have further evidence that this may be the final target we see on silver before a reasonable correction
5- That green demand zone marked on the chart is the most probable correction target so far
Best of luck and Happy trading :-)
XAGUSD(Silver) : Short Trade , 4hHello traders, we want to check the XAGUSD chart. The price has successfully broken the price level of 22.58300 to the bottom and stabilized below this price. Then the price, after settling in a suffering zone, was able to break this zone as well. break down. According to the strength of the downward trend, it is expected that the price can continue its downward trend and fall to around the price of 21.04900. Good luck.
#XAGUSD
In the previous analysis, we considered 3 ranges as a target in dealing with resistance, and we obtained 2 ranges, and by reaching the range of 23.44106, it created support, and by touching this range again, forming a double bottom and creating a positive divergence of the resistance range. broke to climb.
Now, by checking the side range, we see the completion of the ABCD pattern in the range of 24.27206 and we have a negative reaction in reaction with it and the ceiling (resistance).
The upcoming scenario is just a correction from an upward trend up to the range of 23.92651 at the intersection with the pivot and the 38.2 percent Fibo correction. After performing this movement, the next wave can be predicted according to the time and type of movement.