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XAG/USD Maintains Uptrend, Buyers Target $24.00Silver prices increased by 0.91% on Thursday, trading around $23.82 as the Asia-Pacific trading session commenced on Friday. The daily chart indicates a neutral to bullish trend, maintaining near weekly highs, setting the stage for a potential test of the $24.00 level. Once surpassed, the next resistance lies at the June 9th high of $24.52 before potentially reaching $25.00. Breaking through these levels would solidify the upward trend, marking the highest point year-to-date (YTD) at $26.12. On the downside, if XAG/USD drops below the November 23rd low of $23.60, it may test the 200-day Moving Average (DMA) at $23.32. Further decline could lead to a neutral to bearish trend, with the 20-DMA at $23.13 and the 50-DMA at $22.75 as potential support levels.
TVC:SILVER
by Larissa-Trader
1
Silver’s rebound space is limited After the short-term trend of silver fell and tested the low near 21.86, it gained support and quickly rebounded upward. The price of silver broke through the downward trend line pressure, but from the perspective of the moving average system, the objective trend has not entered an upward trend. The further rebound space of silver price is limited. It is expected that the rebound of silver price will continue to rebound around 22.60 during the day and will be blocked again. Short at 22.60, stop loss at 22.80, target at 22.20.
OANDA:XAGUSDShort
by Short-term-trading-king
Silver- Will it drop another 1k pips?Since last Friday's high and strong reversal from 23.50, Solver has dropped 1500 pips. Like in Gold's case, bulls were unable to recover some of the losses and XagUsd is consolidating in the support zone at 21. Here we could also have a new leg down after the consolidation and the obvious target for this drop (swing trading) is the next support at 20, so, 1k pips under the current level. I'm bearish as long as the price stays under 21.50 in terms of daily closing.
OANDA:XAGUSDShort
by Mihai_Iacob
11
Silver- will history repeat itself?As I said, before, I usually use XagUsd as a leading indicator for Gold, and more often than not, this is the case. Also recently, although XauUsd made a new low, XagUsd stopped its descent and reversed and on Monday the reversal was very strong, with the price slightly getting back above both the ascending trend line and the horizontal level followed by a clear up break the next day(yesterday) If we look back at March, we could see a similar pattern, we a double false break and strong reversal. With a renewed appetite for precious metals, we can expect price action to act in a similar way. Technically speaking, a false break leads to reversal, and also, the recent bottom is marked by a lot of reversal candles and candle formations. 23.25 is strong confluence support and considering a trade in that zone with a target in the next important resistance a trade with a 1:4 risk: reward could be achieved
OANDA:XAGUSDLong
by Mihai_Iacob
5
XAGUSD I Daily correction and continuation on the weeklyWelcome back! Let me know your thoughts in the comments! ** XAGUSD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
FXOPEN:XAGUSDShort
by BKTradingAcademy