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Tight your seat belts In short our full net short position in gold and silver is justified from the measurement of reward and risk measurement at the time of writing this article/idea in our yesterday analysis we have cover all the precious in our idea and we told that silver daily rally was a fake one and soon it's going to plunge right away and we didn't have to wait for long to see the results,in today's article/idea we will focus more on silver But first we need to look at gold and what future holds for it,we also told you that most bearish sign is not only coming from gold,it is coming from other precious metals sector silver is confirming it more as it is outperforming gold after every decline Gold target reached-In our past idea we emphasize that gold can make significant upswing before the decline continues and our target price was 1340,we marked this level with yellow dot,why 1340? That's where the rising resistance line is our past analysis is remains up to date,gold has already fell and our net short position proved to be profitable immediately,personally we think that gold can take a big decline today close to the report of news but we are not 100 percent sure(no one can),in past there were many scenarios when precious metals soared higher close to the big announcement or news report but it felt quickly after that,so this could be the way how the big decline will start this time, But the question is will gold decline immediately or will it soar first before it fell? it's rather unclear,we could also see a rally in gold upto 1345 above the previous march high and as we saw importat bearish signs already it can decline right away overall if you will try to look at the big picture these is no doubt that gold is about to a big decline but it's probable that before it happens it can rally to our mentioned number but it will be more good for us in our group to add more in our net short position if it soar as it will give more profit from the measurement of risk and reward crystal clear sign in silver-We have written that rally in silver is like the same when it rallies on nov 2017.17 nov,that specific rally caused big decline in silver and the same happened this time,we are not trying to mix these two analogy also,there are many factors which are contributing to our bias,The analogy was accurate by the way!!! will our past analogy drive the price of silver more further?-yes very probable if gold will take a plunge today then silver will follow big decline overall we believe that both precious metals will take big plunge even if they make any small upswing in short term ,so you should be tight your seat belts to see all this while we will give you our daily analysis!!! These are long term signals as we daily update our students we can close our position in the middle and taking all the profit from the table if market is pointing out reversal Gold 1st target-1218 stop-1380 silver 1st target-14.53 stop-17.200
FX_IDC:XAUUSDShort
by NeerajPandey
1
Silver is approaching strong support, watch for a bounceXAGUSD is approaching strong support at 16.35 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) and a strong bounce could occur at this level to push price all the way up to our major resistance level at 16.78 once again. It’s important to note that we can see a short term descending resistance line which needs to be broken to open a bigger move up. Stochastic (34,5,3) is seeing strong support above 4.5% where a corresponding bounce could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDLong
by Tickmill
2
patience pays off[ ]At the time of writing this article/idea our full short position is now justified in both of the precious metals gold and silver from the risk and reward measurement Not too long ago on friday we closed our net short position in both metals in our group,since then we have seen huge rally in gold and silver as expected before,we already mentioned our short term target area in yesterday post and it was expected to reach at the end of week but yesterday rally was so significant that both metals hit there target areas,before going into chart we want to emphasize you that don't try to look charts as a trading system,it's rather a tool which helps you to find good entry,stop loss and take profits that's it,there are many long term fundamental factors which helps us to add long or short position in our portfolio,ok now let's dive into charts In yesterday post we mentioned that gold could move 1340 zone before it plunges again why 1340? that's where the rising resistance line is,we argued that once it hits that zone that wlll be a strong bears signal and we will be ready to net short our position but before it plunges more in a dramatic way you can see a small upswing again in both of the metals,most important to note is yes gold market is giving strong bearish signals but more strong confirmation is coming out from other precious metals sector silver sector-until now we didn't mentioned silver sector in our idea but from now you will see silver,mining stocks as well as usd index analogy in our articles,on dec 15,2017 we have seen a similar daily rally that we saw yesterday,shortly after the rally silver plunges,bearish implication were huge,so are we going to see the same decline in silver this time? we already did but lot more to come!! not only because we are comparing this present scenario with past but because silver outperformed gold multiple times before declining,we already mentioned in our articles(not here sorry) that once silver will reach to our target area our bearish outlook will be more confirmed ok let's move into us dollar index,keep in mind thay usd index is above its very important support level so long term outlook is very bullish but before the end of week we can expect some volatilty as mario draghi speech and emloyment numbers are about to come so the question is will gold and silver will rally up again,they can but less probable as they have reached our areas of interest so outlook is very bearish now,but anyways we will update with our post if any major changes will happen in metal sector, gold-1st target-1230 stop loss-1379,entry price-1325 silver-1st target-14.730 stop loss- 17.300 entry- 16.500 if you are interested in intraday signals p.m me we will provide you it free stay tuned
FX_IDC:XAUUSDShort
by NeerajPandey
6
XAGUSD reversing nicely, watch for a further drop!XAGUSD is reversing nicely below major resistance at 16.80 (Fibonacci retracement, horizontal resistance area, Fibonacci extension) and a strong drop could occur from here pushing price down to 16.58 support (Fibonacci retracement, horizontal pullback support). Stochastic (34,5,3) is seeing strong resistance at 92% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
XAGUSD testing resistance, potential for a drop!XAGUSD is testing its resistance at 16.949 (100% Fibonacci extension , 50% Fibonacci retracement , 61.8% Fibonacci retracement , horizontal swing high resistance) and could potentially fall to support area between 16.161 (L T 61.8% Fibonacci extension , 100% Fibonacci extension , swing low support) and 16.025 (61.8% Fibonacci extension , 78.6% Fibonacci retracement ). We have also identified a 2nd resistance at 17.101 (61.8% Fibonacci retracement , 76.4% Fibonacci retracement , horizontal pullback resistance). RSI (55, 5, 3) shows a descending resistance that price is approaching which could lead to a corresponding fall in price.
FX_IDC:XAGUSDShort
by ICmarkets
1
XAGUSD bounced off its support, potential to rise further XAGUSD has bounced nicely off its support at 16.161 (100% Fibonacci extension, swing low support) where there may be potential for it to rise further to its resistance at 16.976 (100% Fibonacci extension, 50% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal swing high resistance). We have also found a 2nd support at 16.038 (61.8% Fibonacci extension, 78.6% Fibonacci retracement). Stochastic (89, 5, 3) shows a corresponding bounce off its support at 2.71% where it has potential to rise to its resistance at 97.14%
FX_IDC:XAGUSDLong
by ICmarkets
Silver approaching major support, potential bounce!XAGUSD is approaching major support at 16.15 (Fibonacci extension, fibonacci retracement, horizontal overlap support) and a stronb bounce could occur at this level to push price up to 16.90 resistance (Fibonacci retracement, horizontal overlap resistance). We also notice that stochastic is bouncing really nicely with price at the 4.5% support level and we're fast approaching that level once again, which could lead to a corresponding bounce.
FX:XAGUSDLong
by ICmarkets
Silver testing major support, potential for a bounce!XAGUSD is testing major support at 16.36 (Fibonacci retracement, horizontal swing low support) and a potential bounce could occur at this level to push price up to 16.71 resistance (Fibonacci retracement, horizontal swing high resistance, Fibonacci extension). Stochastic (34,5,3) is also seeing major support above 4.3% where a corresponding bounce could occur to push price up. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDLong
by Tickmill
Silver starting to break out nicely,watch for strong bullishnessSilver (XAGUSD) has broken out of our long term descending resistance-turned-support line signaling that there’s strong potential bullishness. Our 1st major support is at 16.66 (Fibonacci retracement, horizontal overlap support, breakout level) and a strong rise could occur from here to push price all the way up to 16.92 resistance (Fibonacci retracement, horizontal swing high resistance). RSI (21) has correspondingly broken out of our long term descending resistance-turned-support line signaling that a potential rise is approaching. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDLong
by Tickmill
Silver testing major resistance, potential drop from here!Silver (XAGUSD) is testing major resistance at 16.63 (Fibonacci retracement, horizontal overlap resistance, descending resistance) and a strong reaction could occur at this level to push price down towards 16.38 support (Fibonacci retracement, horizontal swing low support, Fibonacci extension). We can see our long term descending resistance line add a lot of bearish pressure to our idea. RSI (21) sees a long term corresponding descending resistance line hold price down really well too. Only a break above this descending resistance line would be a precursor to a larger recovery in silver. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
Silver now testing strong support, watch for a potential bounce!Silver is now testing major support at 16.63 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) and a strong bounce could occur at this level to push price up towards 16.96 resistance (Fibonacci retracement, horizontal swing high resistance). Stochastic (34,5,3) is seeing major support at 7% where a corresponding bounce could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDLong
by Tickmill
Silver is testing major resistance,watch for potential reversalSilver has been rising strong and is now testing major 50% resistance at 16.91 (Fibonacci retracement, Elliott wave structure, horizontal swing high resistance) and a strong reaction could occur at this level to push price all the way down to 16.48 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing major resistance at 95% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
2
Silver right on major resistance, watch for a potential reversal Silver is now testing major resistance at 16.56 (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance, Elliott wave corrective structure) and a strong reaction could occur at this level to push price all the way down to 16.19 support (Fibonacci extension, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance at 95% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
1
Silver testing major resistance, watch for bullish move Buy above 17.31. Stop loss at 17.16. Take profit at 17.48. Reason for the trading strategy (technically): Price is now testing major resistance at 17.31 (Fibonacci retracement, horizontal overlap resistance) and we require price to close nicely above this level before triggering a bullish move that should push price up to at least 17.48 resistance (Fibonacci retracement, horizontal overlap resistance). RSI (34) sees an ascending support line hold up our bullish move really well.
FX:XAGUSDLong
by MEX_Exchange
Silver hovering right above major support,watch for bearish moveSell below 17.34. Stop loss at 17.48. Take profit at 17.11. Reason for the trading strategy (technically): Silver is now hovering above 17.34 major support (swing low support, Fibonacci retracement, ascending support) and a clean break of this level would trigger a bearish move to drive price down to at least 17.11 support (Fibonacci retracement, horizontal overlap support). RSI (34) sees an ascending support line hold price up really well correspondingly. A similar break of this support line would trigger a bearish move downwards.
FX:XAGUSDShort
by MEX_Exchange
4
Silver testing major resistance, prepare for a potential reversaSilver continues to test major resistance at 17.03 (Fibonacci retracement, breakout area) and a potential reversal could occur at this level. We can see that price has made a bearish exit of our long term ascending support-turned-resistance line and coupled with a bearish divergence, this could be the setup for a strong drop. RSI (34) has made a bearish exit of our long term ascending support-turned-resistance line signaling that a reversal is impending. Coupled with the bearish divergence we’re seeing vs price, this could be the precursor of a major bearish move. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
Silver testing major resistance, prepare potentially strong dropSilver has broken our long term ascending support-turned-resistance line stretching all the way back to December 2017 and has made a pullback to this level. This is always a good sign that bears are forcing their way back into the position. The overall momentum remains overwhelmingly bearish. This break of our long term support-turned-resistance line has triggered a potential bearish drop from here below 17.03 (Fibonacci retracement, horizontal pullback resistance, bearish exit) for a push down to 16.21 support (Fibonacci retracement, horizontal pullback support). RSI (34) has made a similar break of its long term ascending support-turned-resistance line signaling that a change in momentum is expected. We are also seeing strong bearish divergence vs price which signals that a potential reversal is impending. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
Silver on pullback resistance, possible re-entry pointSilver has broken our long term ascending support-turned-resistance line stretching all the way back to December 2017 and has made a pullback to this level. This is always a good sign that bears are forcing their way back into the position. This break of our long term support-turned-resistance line has triggered a potential bearish drop from here below 17.03 (Fibonacci retracement, horizontal pullback resistance, bearish exit) for a push down to 16.21 support (Fibonacci retracement, horizontal pullback support). Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
1
Silver has broken major support, prepare for a possible drop!Silver has broken our long term ascending support-turned-resistance line stretching all the way back to December 2017. This has triggered a potential bearish drop from here below 17.03 (Fibonacci retracement, horizontal pullback resistance, bearish exit) for a push down to 16.21 support (Fibonacci retracement, horizontal pullback support). Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill