Silver's Long term bullish biasUntil the aggregate of market participants show me other wise, the bias is bullish.
Semestrial Chart
#silver #xagusd
XAGUSDG trade ideas
Silver struggles at downtrend littered with reversal patternsSilver’s been on a nice run recently, benefitting from an easing of concerns towards the trajectory for US economy. But with the move stalling ahead of levels where it's struggled in the past, and with major risk events approaching fast, are we on the cusp of yet another bearish reversal?
Silver has rallied 14% from the early August lows
It has been extremely correlated with other industrial metals such as copper over the past month, suggesting it’s more a play on the global economy
Silver rally stalls at downtrend that’s sparked bearish reversals in the past
Overview
Silver’s been on a nice run recently, benefitting from an easing of concerns towards the trajectory for global US economy. That’s because unlike gold which has been heavily influenced by movements in the US dollar and bond yields, silver has been extremely correlated with copper futures over the past month, another industrial metal closely tied to economic activity.
While concerns have eased recently, we’re about to receive a whole bunch of economic data that could easily see them flare again next week. Perhaps unsurprisingly, silver has struggled to extend the bullish reversal sparked by Jerome Powell’s speech last Friday, wobbling ahead of downtrend resistance dating back to the highs struck this year.
Silver looking at another bearish reversal?
When you look back to see how the silver price has interacted with this level previously, you can’t help but notice it’s littered with evening stars, bearish engulfing candles and key reversals, all notable topping patterns. It doesn’t like it.
With RSI (14) rolling over, warning of waning bullish momentum, I wonder whether we may see a similar outcome soon? Wednesday’s candle, while incomplete, looms as a potential bearish engulfing, while the price is threatening to break out of the rising wedge it’s been in for several weeks.
For those keen to take on the short trade, you could sell now or wait for better levels slightly higher with a stop above Monday’s high for protection. The initial trade target would be $28.77, conditional on the price being able to break the 50-day moving average. If $28.77 were to give way, $28.046 and $27.269 are the next levels to consider.
If the trade moves in your favour, consider lowering your stop to entry level or lower, allowing for a free hit on downside.
-- Written by David Scutt
Buy opportunityThe pair presents an enticing Buy opportunity at the price of 29.500, with favorable potential for profit.
Targets:
Primary Target: 30.124
Secondary Target:31.535
Breakout Scenario:
In the event of a breach above the Support level of 28770, indicative of a bearish breakout, the target price is anticipated to ascend towards 28000.
Technical analysis indicates a notable buying sentiment prevailing in the market at the present price level.
Fundamental factors align with the proposed buy strategy, suggesting upward pressure on the Silver pair.
Prudent risk management measures should be employed to mitigate exposure to potential adverse market movements.
Disclaimer: This analysis is provided based on current market conditions and historical price data. Traders are advised to conduct independent research and exercise caution, employing appropriate risk management techniques, before executing any trading decisions.
Silver Demand Zone BuySilver is coming into our POI demand zone, touching it and pushing up almost instantly.
Price is in a bullish momentum on the HTF
Price is above the 200 MA
Entry was on the LTF when I saw rejection of the 200MA
price has respected the demand zone in previous price action
Lets see if we can get at least 3R for this trade
Happy trading!
SILVER (XAGUSD) : Pullback From Key LevelSilver is likely to drop from a significant daily resistance level.
There are several signs of a potential drop in the short term, including the breaking of a neckline of a double top pattern and a trend line of a rising wedge pattern on a 4-hour timeframe.
The price could soon reach the 29.04 level.
Silver looking toppy as risk events nearSilver’s been on a nice run recently, benefitting from an easing of concerns towards the trajectory for US economy. That’s because unlike gold which has been heavily influenced by movements in the US dollar and bond yields, silver has been extremely correlated with copper futures over the past month, another industrial metal closely tied to economic activity.
While concerns have eased recently, we’re about to receive a whole bunch of economic data that could easily see them flare again next week. Perhaps unsurprisingly, silver has struggled to extend the bullish reversal sparked by Jerome Powell’s speech last Friday, wobbling ahead of downtrend resistance dating back to the highs struck this year.
When you look back to see how the silver price has interacted with this level previously, you can’t help but notice it’s littered with evening stars, bearish engulfing candles and key reversals, all notable topping patterns. It doesn’t like it.
With RSI (14) rolling over, warning of waning bullish momentum, I wonder whether we may see a similar outcome soon? Wednesday’s candle, while incomplete, looms as a potential bearish engulfing, while the price is threatening to break out of the rising wedge it’s been in for several weeks.
For those keen to take on the short trade, you could sell now with a stop above Monday’s high for protection. The initial trade target would be $28.77, conditional on the price being able to break the 50-day moving average. If $28.77 were to give way, $28.046 and $27.269 are the next levels to consider. If the trade moves in your favour, consider lowering your stop to entry level or below.
Good luck!
DS
Bearish reversal?Silver (XAG/USD) is reacting on the pivot which has been identified as a pullback resistance and could fall to the 1st support which acts as an overlap support.
Pivot: 30.11
1st Support: 29.01
1st Resistance: 30.11
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Short setup Silver: Please see chart.XAGUSD Short setup.
Price is retracing back to the neckline.
I will be shorting this on a bearish cancer or impulsive move with volume
Silver Price is breaking out right now. Silver...
We saw the silver price during Tuesday trading get sucked down by a sell-off in the Gold price due to double-top formation on multiple timeframes.
But actually Silver showed price divergence relative to Gold in that it's price held up quite well. Why would that be? Well the Silver Daily chart is so much healthier for Long positions in comparison to Gold which at last viewing was still littered with double top formations.
Silver recently broke 30.0460. Expected higher prices in NY afternoon trading.
I analyzed silver vs money supply, Is it worth holding?33 is the ceiling for now for silver.
To reach the 2011, we need to see 100-120 per ounce to reflect the current money supply.
55-60 per ounce might seem like new highs, but its not when accounting for the money supply in existence now vs then in 2011.
Significant percentage Dips below the 200 day moving averages are attractive over time.
Taking partial profits along the way in small percentages to reduce risk and reduce cost basis is also attractive.
Goal should be to end up with zero capital at risk and end up with free metal as currency hedge long term.
Aussie Tuesday Session - Buy order soon in Silver
Silver has sold off about 0.25% in early Australian trading.
I will have another buy order into Silver very soon...
Basically, the selling has been ignited due to Double Tops forming across timeframes right through to the 4HR because price action was stalling in the New York rally in getting over the 30 level again for the 2nd time during the Monday session.
SILVER BEARISH BIAS RIGHT NOW| 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 15H 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 28.518 area.
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XAGUSD - Silver reached above 30 dollars!Silver is above the EMA200 and EMA50 in the 4H timeframe and is trading in its ascending channel
If the upward movement continues and silver is placed within the specified supply zones, we can look for silver sales situations
The correction of silver towards the drawn demand zone, which is also at the intersection with the bottom of the ascending channel, will provide us with a good buying position in terms of reward to risk
The target for buying and selling silver will be the midline of the ascending channel
XAGUSD PLAYS Daily there's a lot of bullish momentum, consecutive bullish candles with larger bodies, close above daily resistance look to see if this level can hold as support;NOTE; Downtrend market structure on daily Has been broken.
4H rejection to the downside large exhaustion at the newly found support
PLAYS: close below the support to enter sells and a rejection a the daily high for short positions
Why I won't be 'shaken' out of my Silver-accumulation longs
Please, check out my charts. The 4HR, Daily and Weekly.
How bullish is looking for Silver. Today's price-action has already taken out last weeks high.
I recommended to many of the traders following me here on TV, to get into a Long position(s) in Silver today. Why? Well without even speculating on the FED making it's move on interest rate reductions & where my personal view is the obvious one that the Gold price is going to skyrocket, notwithstanding this the Silver chart on the high T/F's is so bullish at the moment.
If one of the Gurus tells you to sell Gold or Silver at the moment and take TP, you are losing the compounding effect of accumulation IMHO. Just chuck on a loose trailing stop. But make it loose because the market-maker 'coats' will drive price down to your stop & take you out. I see it time and time again, which is why I generally only use 'soft-mental-stops'. I'd rather lose the lot myself than have a coat take me out.
Trade for Monday : Buy the Silver Price: Long-Term Trade.
Silver is about 9% off it's high price for 2024.
I see this trade as a longer term setup going into September.
Daily & Weekly Charts are very supportive of the Silver Price.
Stop Loss: 28.45
28.45 is right under a fair-value-gap from a bullish candle that formed on 16th Augt. recently.
28.45 is about 4.83% under current price, so represents a very good R:R as we take this trade up much much higher.
Entry Level:
To be determined during European/London session during tomorrow (Monday trading)
Silver XAGUSD is breaking out for a Long
I mentioned during yesterday Sunday, that I was very bullish on the Silver price at the moment.
It appears to breaking out right now through Tops resistance on the Mid-timeframes.
Look for a price retracement for a Long buy.
I will get a trade organised in Silver probably closer to the New York session.
buy idea on silver On the 4-hour timeframe, the price structure has transitioned into an upward trend, targeting the upper liquidity within the premium zone. The price action continues to exhibit bullish pressure, suggesting that it may approach and test the equal highs, forming a double top pattern. From a technical analysis perspective, the probability of reaching these highs remains strong. We will monitor developments to see how this plays out.
XAGUSDOn daily timeframe price broke above previous daily resistant which indicates to us that it is not a strong support zone. Then price created a nice M pattern on daily and H4 indicating that the price is at the same daily neckline, which price must break expected and move bullish till TP @ 30.185
XAGUSD - SWING SHORT idea Price made a false breakout of the previous week high with a strong bearish reaction. Also, the start of the new week will probably be manipulation with distribution lower.
A great sign of weakness is when the new week candle open, makes a false run on one side with a a sweep of liquidity (many traders are trapped), and then distributes on the true side.
SILVER - NEW BREAKOUT Hello Traders !
The Silver price failed to create a new lower low !
Currently, The resistance level (28.572 - 29.228) is broken !
So, I expect a bullish move 🚀
________________
TARGET: 30.35800🎯
Buy opportunityThe pair presents an enticing Buy opportunity at the price of 29.400 to 29200, with favorable potential for profit.
Targets:
Primary Target: 30.123
Secondary Target:31.535
Breakout Scenario:
In the event of a breach above the Support level of 29184, indicative of a bearish breakout, the target price is anticipated to ascend towards 29000.
Technical analysis indicates a notable buying sentiment prevailing in the market at the present price level.
Fundamental factors align with the proposed buy strategy, suggesting upward pressure on the Silver pair.
Prudent risk management measures should be employed to mitigate exposure to potential adverse market movements.
Disclaimer: This analysis is provided based on current market conditions and historical price data. Traders are advised to conduct independent research and exercise caution, employing appropriate risk management techniques, before executing any trading decisions.
SILVER Will Fall! Short!
Here is our detailed technical review for SILVER.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 30.066.
Considering the today's price action, probabilities will be high to see a movement to 28.468.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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