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Silver Price Analysis: 5th Wave EmergesSilver Price Analysis: 5th Wave Emerges – Targeting $34.50 and Beyond The attached chart provides a technical analysis of silver (XAGUSD) on a 75-minute timeframe, highlighting its movement through a series of Elliott Waves and technical formations that signal potential price targets. Currently, silver appears to be starting its 5th wave, indicating an upward movement that could drive prices significantly higher in the near term. Key Technical Insights: Falling Wedge Pattern: The chart reveals a falling wedge formation in wave (4), typically a bullish reversal pattern. As silver broke out of this formation, it confirmed the beginning of wave (5), marking a shift in trend towards an upward trajectory. Wave Count: According to Elliott Wave Theory, silver has completed waves (1), (2), (3), and (4) and is now entering wave (5). This final impulse wave often signals a continuation of the bullish trend, pushing prices to new highs before a potential reversal or corrective phase. Current Price Action and Initial Target: Starting Point: Silver has started its 5th wave from a recent low of $32.264. Target 1: The immediate price target for this wave is $34.50. This target is based on the previous resistance level and aligns with technical indicators that suggest upward momentum. Fibonacci Extension Target: If the 5th wave gains strong momentum and reaches 1.618 times the length of wave (1), silver could potentially reach the $35.595 mark. The 1.618 Fibonacci extension level is often associated with the completion of strong impulsive waves, providing a secondary target for bullish traders. Supporting Indicators: Moving Averages and Bollinger Bands: The chart shows silver moving along key moving averages with the Bollinger Bands expanding, indicating increased volatility and room for price movement within the upward trend. Volume: An increase in trading volume supports the breakout, indicating that buyers are entering the market, further strengthening the bullish outlook. Summary With the breakout from the falling wedge and the start of the 5th wave, silver is positioned for a potential rally towards $34.50, with an extended target of $35.595 if momentum continues. Traders should watch for price action around these levels, as they could present opportunities for profit-taking or further breakout trades if bullish sentiment remains strong. However, caution is advised as silver approaches these resistance levels, as a reversal could occur once the 5th wave completes. Silver's price action over the next few sessions will be critical in confirming the strength of this upward movement and whether it can achieve the anticipated Fibonacci extension level. #DYOR
CAPITALCOM:SILVERLong
by Charts_Maven
Bullish Divergence Formed on SILVER XAGUSDWe have a bullish Div here on Silver 45min TF. Divergence is not completely fool proof, however 7 out of 10 times, they give you a win and push into green, giving you an oppurtunnity to cut your stoploss in half. There are 3 possible rejective price levels on chart. Which may send price back on a bearish rally. However once price breaks 32.50 it should retest rejection price level 1. This will be interesting to watch play out this week, once markets reopen in 3 to 6hours, Be mindful of market open CME Gap. OANDA:XAGUSD
OANDA:XAGUSDLong
by MiDAS_CryptoGroup
XAGUSD VIew!!SPDR Gold shares turned negative in late trading, falling 0.1%. Despite losing momentum throughout the day, recent strength has come as investors add gold positions. "The retail investors have started following central banks and are increasing their allocations as evidenced by the inflow into ETFs and their increasing demand for physical gold," says Alex Ebkarian of Allegiance Gold in a note. Earlier this week, the World Gold Council confirmed increased buying of gold ETFs among western investors. Front-month gold futures finished the day down 0.1% to $2,738.60 an ounce. (kirk.maltais@wsj.com)
OANDA:XAGUSDLong
by FXBANkthe8055
SILVER Massive Long! BUY! My dear friends, Please, find my technical outlook for SILVER below: The instrument tests an important psychological level 32.449 Bias -Bullish Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market. Target - 33.607 Recommended Stop Loss -31.757 About Used Indicators: Super-trend indicator is more useful in trending markets where there are clear uptrends and downtrends in price. ——————————— WISH YOU ALL LUCK
OANDA:XAGUSDLong
by AnabelSignals
1
SILVER, bargain opportunity that's hard to resist.SILVER has trimmed it's price significantly to multi week lows. The overextended correction is a good opportunity for possible reversal prospect. KEY NOTES: Daily FIB is at 61.8 level -- buyer's key demand area. Currently bouncing off this level with precision. Histogram higher lows. Daily Higher lows -- firm ascending support lines. TRI-MONTHLY higher lows - price + histogram conveying firm price valuation goal. Bubble up volume appeared twice this last 2 quarters -- current range of 22.00-23.00 acting as support space for XAG. Spotted at 22.3 TAYOR Safeguard capital always.
OANDA:XAGUSDLong
by JSAL
3
SILVER Sellers In Panic! BUY! My dear followers, I analysed this chart on SILVER and concluded the following: The market is trading on 32.966 pivot level. Bias - Bullish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation. Target - 33.538 About Used Indicators: A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy. ——————————— WISH YOU ALL LUCK
OANDA:XAGUSDLong
by AnabelSignals
1
SILVER_101 2024.11.01 08:43:06 Trading Signal BUYFrankPro Signal for SILVER_101 Type: Screen Signal: BUY TP: 33.426 SL: 32.711 Entry Price: 32.854 Analysis for SILVER Forecast Overall(Short-Term, Long-Term): ST= Probably Down LT= Strong Up Forecast Methods(Short-Term, Long-Term): ST=Up LT=Up ST=Down LT=Up ST=Down LT=Up Analysis Method(0) Based on the provided analysis, I will perform a separate analysis for short-term and long-term expectations for the Silver price (XAG/USD). **Short-term Analysis (next 24-48 hours)** * The current price of $32.677 is approaching a key support area at $33.10, which could lead to a bounce or a break below. * Technical indicators suggest a potential buy signal, but the Williams %R indicates the market is overbought. * The softer US Dollar is preventing further retreats in precious metals, which could lead to a slight increase in Silver prices. * Economic factors such as the EUR/USD rate and Gold prices will influence the Silver price. **Expected Short-term Movement:** Neutral to Slightly Up The Silver price is expected to remain relatively stable or experience a slight increase in the short term, as it approaches the key support area. However, a clear break below $33.10 could increase bearish pressure. **Long-term Analysis (next week and beyond)** * The influence of broader economic factors, such as the US PCE prices index and the upcoming NFP report, could lead to increased volatility in Silver prices. * Geopolitical instability and fears of a deep recession could support Silver prices due to its safe-haven status. * The Gold/Silver ratio and Gold prices will continue to influence Silver prices, with a potential indirect impact from the US election uncertainty. * Industrial demand and the US consumer discretionary sectors could also impact Silver prices in the long term. **Expected Long-term Movement:** Up The long-term outlook for Silver prices appears bullish, driven by the potential for increased safe-haven demand, industrial demand, and the influence of Gold prices. However, the market will need to navigate the upcoming economic data releases and geopolitical events, which could lead to increased volatility. Result: ST=Up LT=Up Analysis Method(1) Based on the provided analysis, here are my expectations for the XAG/USD (Silver) price changes: **Short-term (next few days):** * The price is expected to go down, as it is currently testing the support area near $32.35 and may break below the key support level at $33.10, potentially reaching $32.10 or even $31.30. * However, the US Dollar's performance and key economic data releases (US PCE prices index and NFP report) may influence the price movement and prevent further declines. **Long-term (weeks/months):** * The price is expected to go up, as the forecast indicates continued growth with a target above $36.75 after the potential correction. * The technical indicators (moving averages, RSI, STOCH, and MACD) all support a bullish trend, and the Elliott Wave analysis suggests a wave iv rally followed by a marginal wave v lower before resuming higher. * However, a fall and breakout below $31.05 would cancel the growth scenario and indicate a continuation of the decline towards $29.25. In summary, while there may be a short-term correction or decline, the long-term outlook for XAG/USD is bullish, with expectations of continued growth and a target above $36.75. Result: ST=Down LT=Up Analysis Method(2) Based on the provided analysis, here are my conclusions for the expected price movement of XAG/USD (Silver) in both the short-term and long-term: **Short-term (next few days/weeks):** * The price is expected to go down. The analysis suggests a bearish correction to test the support level near $32.35, and the Elliott Wave analysis indicates a wave ((ii)) pullback is in progress, which may lead to a marginal wave v lower. * However, the decline is expected to be limited, and the price is likely to rebound from the support level, potentially around $32.10 or $31.30. **Long-term (next few months):** * The price is expected to go up. The analysis indicates a bullish trend, with moving averages suggesting continued growth. The target price is above $36.75, and the Elliott Wave analysis suggests that the metal will resume its upward trend after the current corrective phase. * The overall outlook remains bullish, with the pivot at the 30.1 low being crucial for maintaining this outlook. Please note that these conclusions are based on the provided analysis and are subject to change as new data and market developments emerge. Result: ST=Down LT=Up
CAPITALCOM:SILVERLong
by orbborisson
SILVER_110 2024.11.01 05:27:04 Trading Signal SELLFrankPro Signal for SILVER_110 Type: Screen Signal: SELL TP: 32.0835 SL: 32.983 Entry Price: 32.726 Analysis for SILVER Forecast Overall(Short-Term, Long-Term): ST= Probably Up LT= Strong Up Forecast Methods(Short-Term, Long-Term): ST=Same LT=Up ST=Up LT=Up ST=Up LT=Up Analysis Method(0) Based on the provided data, I will perform a separate analysis for short-term and long-term expectations. **Short-term Analysis (Next 24-48 hours)** * The recent price movements show a slight correction, with silver prices extending losses for the second consecutive day, currently trading around $33.60. * However, the overall outlook remains firm due to uncertainty over the US presidential elections and potential inflationary policies. * Technical indicators, such as the 14-day RSI, remain bullish, indicating active momentum. * Support levels are plotted near $32.70, $32.50, and $31.90-$32.10, which may provide a cushion for the price. **Short-term Expectation:** The price is expected to stay the same or experience a minor correction, potentially testing the support area near $32.70. However, the overall bullish momentum may help the price to rebound and maintain its current levels. **Long-term Analysis (Next few weeks/months)** * The silver price surged to near $34.50 following weaker-than-expected US JOLTS Job Openings data, indicating a slowdown in labor demand. * The horizontal support at $32.50 and the upward-sloping 20-day EMA near $32.70 suggest more upside ahead. * The expectation for silver to recapture a fresh over 12-year high near $35.00 after breaking out of a three-day consolidation remains intact. * Economic data, including the US Q3 GDP, PCE data, NFP, and ISM Manufacturing PMI, will influence the Federal Reserve's monetary policy and, in turn, affect silver prices. **Long-term Expectation:** The price is expected to go up, potentially reaching a fresh over 12-year high near $35.00, driven by bullish technical indicators, supportive economic data, and uncertainty over the US presidential elections. Result: ST=Same LT=Up Analysis Method(1) Based on the provided analysis, here are my conclusions for the short-term and long-term outlook for the XAG/USD (silver) price: **Short-term Outlook (next few days to a week)** * The price is expected to go up, but with a slight caution. The current price is struggling to clear the $34.00 resistance level, but the RSI is in bullish territory, indicating positive momentum. * If the price breaks above $34.00, it could target the year-to-date high at $34.86 and then the October 2012 peak at $35.40. * However, there are mixed signals from various technical indicators, and some forecasts suggest that silver might attempt to test the support area near $32.70. **Long-term Outlook (weeks to months)** * The price is expected to go up. Some forecasts suggest that the XAG/USD rate could rise significantly in the coming weeks and months, with a predicted price of $38.45 by the end of the week and $41.99 in the longer term. * The overall sentiment in the XAG/USD market is estimated as bullish, with the 14-day RSI reading indicating overbought conditions. * Geopolitical instability and fears of a recession can also drive silver prices up due to its safe-haven status, supporting the long-term bullish outlook. Please note that these conclusions are based on the provided analysis and should not be considered as investment advice. The silver market can be volatile, and prices can fluctuate rapidly due to various market and economic factors. Result: ST=Up LT=Up Analysis Method(2) Based on the provided analysis, here is my assessment of the expected price movement of Silver (XAG/USD) for both short-term and long-term: **Short-term (next few days):** * The recent surge in silver prices was followed by a two-day correction, which might be a normal pullback after a strong move. * The technical analysis suggests that silver aims to recapture a fresh over 12-year high near $35.00, indicating a potential upside. * However, the upcoming US economic data releases (US Q3 GDP, PCE, NFP, and ISM Manufacturing PMI) may cause short-term volatility and potentially impact the price. * Given the current bullish momentum (14-day RSI in the 60.00-80.00 range) and the horizontal support at $32.50, I expect the price to stay around the current level ($33.60) or slightly increase in the short-term. **Expected short-term price movement:** Slightly Up or Sideways **Long-term (next few weeks/months):** * The overall market sentiment remains firm, driven by uncertainty over the US presidential elections and the potential for protectionist policies and inflation. * The expectation of former US President Donald Trump returning to power supports the demand for safe-haven assets like silver. * The technical analysis suggests a potential breakout above $35.00, which could lead to further gains. * Considering the long-term bullish trend and the supportive market sentiment, I expect the price to increase in the long-term. **Expected long-term price movement:** Up Result: ST=Up LT=Up
CAPITALCOM:SILVERShort
by orbborisson