Bull flag break out on silver Silver is expected to continue the bullish trend after breaking out of the bull flag pattern which is often interpreted as a trend continuation.
SILVER trade ideas
SILVER (XAGUSD): Significant BreakoutSilver has the potential to rise further after breaking a major resistance level during intraday trading.
The previously breached structure now acts as support, indicating a possible move up towards 34.92.
Erasing the sellsThe white metal may erase the sells that were dominant the past few days. Nearby resistance barriers we'll be the targets. However, failure to go up and a drop below 33.000 we'll likely continue the bearish move.
SILVER (XAGUSD): Bullish Continuation After News
Today's news are certainly bullish for Gold and Silver.
XAGUSD formed a confirmed Change of Character CHoCH
on a 4h time frame, signifying a completion of a local correction.
The price will text a current high now.
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Limited supply of silver with surging demand.Metals markets analyst Steve St. Angelo estimates that in the first half of 2024, the total weighted average cost of production among the leading silver miners rose to at least $26 per ounce.
Silver prices have surged over 6%, surpassing $33.6 per ounce. This rise poses a risk of significant financial losses for five U.S. banks holding large short positions in the metal.
The Commodity Futures Trading Commission (CFTC) reports that open interest in silver futures has reached 141,580 contracts, each representing 5,000 ounces. This totals about 707.9 million ounces, nearly matching a year’s global silver production, concentrated among these five banks.(Source: yahoo)
so if the banks decided to cover short, then the silver will explode.
Green energy means more silver demand.
Europe expects to install 260 GW of new wind power capacity over 2024-2030. The EU-27 should install 200 GW of this – 29 GW a year on average. (Source: Windeurope) which will have 50% more capacity in 2023, and the demand for silver will continue to rise since atypical wind turbines may contain around 0.5 to 1 kilogram (500 to 1,000 grams) of silver for its electrical components, including brushes and other conductive parts.
EVs mean more silver demand.
Average vehicle silver loadings, estimated at 15-28 grams (g) per internal combustion engine (ICE) light vehicle, have risen over the past few decades. Silver use is higher in hybrid cars at around 18-34g per light vehicle, while battery electric vehicles (BEVs) are believed to consume 25-50g of silver per vehicle. It is estimated that nearly 90 million ounces (Moz) of silver will be absorbed annually into the automotive industry by 2025.
Technical
a round bottom, looking for silver to test 50 and likely surpass the resistance.
Morning star weekly detected... 4H time frame Silver ...Its time to go UP next target 36 , geopolitical 42 this week...
SILVER Will Go Lower! Short!
Please, check our technical outlook for SILVER.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 34.071.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 33.443 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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Silver price channel 35According to the positive correlation with gold and the American election conditions, and on the other hand, the war conditions in the Middle East increased during the last month and formed a new increasing channel. According to the analysis, this increase can continue with 3 goals, the first to the third goals respectively. The price of 34, 34.5, 35, which has the possibility of increasing to these 3 targets in the coming days
SILVER, Rejection from Channel TopBullish Channel
Rejection from Channel Top
New lows formation
Seasonlity indicates bearish moment in NOV, 9/12 times
Short at current price
Initial Target is Bottom of channel
In case of break of channel, it can take support at major levels indicated in red
SILVER: Market Is Looking Up! Buy!
Welcome to our daily SILVER prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the upside. So we are locally bullish biased and the target for the long trade is 33.68170$
Wish you good luck in trading to you all!
XAGUSD View!!Silver held its recent decline to around $33.7 per ounce on Monday as the dollar and Treasury yields rallied further on signs of strength in the US economy and bets that former President Donald Trump will win at next month’s election.
Easing geopolitical risks in the Middle East also pressured precious metals as Israel’s retaliatory strikes on Iran over the weekend did not target crude or nuclear facilities, while Tehran did not immediately vow to respond, raising hopes of a de-escalation in the regional conflict.
Bullish on SilverJust a quick update on Silver.
As I outlined in the previous post, Silver followed the yellow scenario as we expected.
Now, I would like to see Silver show some weakness and hit $32.3 first, then rally up to $36.4.
Gold can also follow the same pattern.
Silver XAG/USD Analysis --- 28.10.2024Downward Outlook for XAG/USD:
Potential support levels: $32.20-$32.15, $32.00, $31.70-$31.65.
Possible further declines towards $31.00, $30.50, and the monthly swing low near $30.00 (tested on October 8).
Upside Potential:
Immediate resistance at $33.65.
If breached, potential to reclaim $34.00 and target the $34.30-$34.35 supply zone.
Further bullish momentum could aim for the $35.00 psychological mark and challenge the October 2012 swing high around $35.35-$35.40.
Silver Heading for a Breakdown? targeting $30📉 Silver Heading for a Breakdown? ⚠️
OANDA:XAGUSD is facing a major test at $33.10. Failing to hold this level could see Silver tumbling down towards $30! 🚨
📊 Key levels to watch:
Breakdown at $33.10
Major fall expected below $32.50 📉
RSI divergence and rising selling pressure signal that a correction might be on the way! 📉📉
Silver (XAG/USD) Analysis:
The daily chart of Silver (XAG/USD) reveals critical insights for traders:
Resistance and Breakdown Levels:
Silver has reached a critical resistance zone at $33.10. Any failure to hold above this level signals a potential breakdown.
$32.50 serves as the major breakdown point, and if prices dip below this, we could expect further downside movement towards $30.
Bearish Momentum:
The recent price action shows a lower high, which could signify weakening bullish momentum. This is further reinforced by the declining RSI, indicating bearish divergence.
Next Key Support at $30:
The next major support sits around $30. If Silver breaches the $32.50 mark, the expectation would be a move towards this psychological level.
Volume Insight:
A slight increase in volume near the recent resistance suggests strong selling pressure at higher levels. Traders should watch for any spike in volume accompanying a breakdown.
Conclusion:
If Silver breaks below the $32.50 level, a drop towards $30 becomes highly likely. Traders should monitor for potential bearish confirmation, especially with the weakening RSI and volume cues.
SILVER BEARS ARE GAINING STRENGTH|SHORT
Hello, Friends!
SILVER pair is trading in a local uptrend which we know by looking at the previous 1W candle which is green. On the 45m timeframe the pair is going up too. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 33.031 area.
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Bullish Flag Emerges: Silver Gearing Up for the Next Rally?The bullish flag on Silver suggests that the market is in a temporary consolidation phase, with bulls gathering strength for the next push. A break above the pattern's resistance could trigger a continuation rally, while failure to do so may lead to further sideways movement.
XAGUSD BULLISH 1000PIPStop Loss at the Recent Low: Setting a stop loss at the most recent swing low is a common risk management strategy to minimize potential downside. It ensures that if the price action breaks this level, the trade will be closed automatically, potentially indicating a bearish reversal or continuation pattern.
Target of 1000 Pips: A 1000-pip target on XAG/USD is a relatively large profit margin, so it aligns well with a trend-following or swing-trading strategy. Given silver’s volatility, reaching this level may require holding the position over a longer timeframe, especially if it's a bullish move from a low point.
SILVER LOOKING FOR A SUPPORT TO START 2025 HELLO TRADERS
As I can see Silver is now rejected from ATH 35$ and looking for a support to make new ATH as we had mention in our analysis for Weekley based view on Silver for incoming 2025
technically its now trading under the support zone which was 32$ we expected one more retest to that level so it kiss the Fib Golden Ratio 0.50 zone which is our selling zone till design TP
Friends its just a trade idea share Ur thoughts with us
Stay Tuned for more updates
SILVER My Opinion! BUY!
My dear friends,
My technical analysis for SILVER is below:
The market is trading on 31.3070 pivot level.
Bias - Bullish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation.
Target - 32.361
Recommended Stop Loss - 30.604
About Used Indicators:
A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames.
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WISH YOU ALL LUCK
Silver Chart below - I could be wrong or seriously right.
Most of my ramble is within the chart.
I think traders might have already witnessed the commencement of a bigger market correction for the Gold and Silver price.
Bearish continuationThe white metal failed to rally up into the 32.000's and we'll likely go further down and touch the Weekly lows.
Silver price down 1.75% (intentional I think) to take longs out.
A lot of people were long on gold and silver on thursday and I think that it was planned to keep the price selley today to take out stops.
Anyway, XAGUSD is down 1.75% and about 31.38 now. I think the price will move swiftly back up if buyers are there.
Join the friday afternoon free silver train long and get paid to do nothing.
Bearish continuation setups taken on Silver and WTI today explaiIn this video, I walk you through my entire thought process during today's trading session. You'll learn how I selected the pairs and executed three key trades:
* Silver Breakdown Retracement Continuation Short, R4,5
* WTI Breakdown Continuation Short, R3
I'll also provide a detailed explanation of the BD Continuation setup, helping you understand how to apply this strategy in your own trading. Breakdown Continuation is one of my personal A+ playbook setups. Don't miss out on these valuable insights and tips!
