Double top for Silver, possible reversalDouble top can be an extremely bearish pattern, now we wait for the price of XAG/USD to drop below the support level (neckline) indicated on the chart in order to target the price around $28.
XAGUSDG trade ideas
Silver- Ready for 35usd A few months ago, I wrote an XAG/USD analysis, predicting that Silver could rise by 10,000 pips to reach 35.
Achieving such a significant target requires patience, and the price won't climb in a straight line. However, my long-term conviction remains unchanged: Silver will likely rise to 35 USD/oz.
But as Keynes said, "In the long run, we are all dead," so let's focus on the short term.
Recently, as shown in the posted chart, Silver broke below horizontal support.
However, after a bullish Pin Bar formation a few days ago, the price reversed strongly and is now trading back at the old support, which has become resistance.
This suggests the possibility of a false break.
At this moment, given the proximity to resistance, a correction is possible. However, this correction should be seen as a good opportunity to buy in anticipation of a false break. Depending on your patience, you could set your target at 30, 32, or my long-term target of 35.
xag long, so easyThe upper boundary of the yellow downtrend channel has broken through and risen, while the lower boundary support position of the purple red uptrend channel has risen
Strong BUY IndicationBullish Trend Confirmation:
Higher Highs and Higher Lows: The price action is forming a series of higher highs and higher lows, indicating a strong bullish trend.
Trendline Breakout: The price has broken above a long-term descending trendline, signaling a potential shift from a downtrend to an uptrend.
Technical Indicators:
Moving Averages: The price is trading above key moving averages (e.g., the 50-period and 200-period moving averages), suggesting bullish momentum. A golden cross, where the 50-period moving average crosses above the 200-period moving average, is a particularly strong buy signal.
MACD (Moving Average Convergence Divergence): The MACD line crossing above the signal line and moving into positive territory indicates increasing bullish momentum.
RSI (Relative Strength Index): The RSI is rising and staying above 50, confirming the strength of the bullish move. However, it's not yet in the overbought territory, indicating room for further upside.
Chart Patterns:
Bullish Reversal Patterns: Formation of bullish reversal patterns such as a double bottom, inverse head and shoulders, or cup and handle.
Breakout from Consolidation: Price breaks out from a consolidation pattern (like a rectangle or symmetrical triangle) on high volume, suggesting the beginning of a new bullish phase.
Volume Analysis:
Rising Volume on Up Moves: Increased volume during price advances and lower volume during pullbacks indicate strong buying interest.
Volume Spikes: Significant volume spikes accompanying upward price movements, confirming the strength of the breakout.
Fibonacci Levels:
Retracement and Extension Levels: Price retracing to key Fibonacci levels (38.2%, 50%, or 61.8%) and showing strong support can provide a buy indication. Additionally, price targets can be set using Fibonacci extension levels.
Fundamental Factors:
Economic Indicators: Positive economic data or geopolitical events that favor precious metals as a safe-haven asset.
Market Sentiment: Overall market sentiment turning bullish towards commodities and precious metals due to inflation concerns, currency devaluation, or other macroeconomic factors.
Silver Follows Gold's Lead for Potential UpsideSilver, often moving in tandem with gold due to their strong correlation, has recently undergone a period of retracement. This pullback has prompted traders and analysts to search for a demand zone where silver can resume its upward trajectory, potentially leading to significant growth.
Our analysis has pinpointed a key support area around the $27.500 level. This zone has shown its relevance as the price tested it with a spike, and Friday's session closed with a small indecisive bullish candle. This candle formation suggests a pause in the downtrend and indicates potential bullish momentum building up.
The Commitments of Traders (COT) reports offer additional insight into market sentiment. These reports reveal the positions of large speculators and commercial traders, providing a deeper understanding of the market's undercurrents. Current COT data suggests an increasing interest in silver from major market players, further supporting the case for a potential upswing.
Technical analysis also plays a crucial role in our assessment. Key indicators and chart patterns are aligning to suggest that silver is approaching a critical juncture. The $27.500 area has been identified as a significant support level based on historical price action. The combination of support at this level, along with the formation of a bullish candle of indecision, points towards a possible reversal in the near term.
Seasonality trends offer yet another layer of confirmation. Historical data shows that certain times of the year are more favorable for silver prices. We are currently entering a period that has traditionally supported bullish movements in the silver market. This seasonal factor adds weight to our analysis and enhances our confidence in the potential for a price increase.
Given the convergence of these factors—COT reports, technical analysis, and seasonality—we are considering opening a bullish position at the $27.500 level. This area appears to be a strategic entry point for capitalizing on the anticipated upward movement. As always, it's important to monitor the market closely for any further confirming signals before committing to a trade.
In conclusion, silver's recent retracement offers a promising opportunity for traders. The identified support area around $27.500, combined with favorable COT data, technical indicators, and seasonal trends, suggests that silver may be poised for a bullish reversal. We are looking to open a bullish setup at this level, anticipating potential growth in the coming sessions.
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XAGUSD | XAG | Silver H4 at important Support LevelXAGUSD | XAG | Silver H4 at important Support Level
perfect Bullish Pennant if this support works ,
OANDA:XAGUSD
SILVER - at resistance? what's next?? FOMC#SILVER. perfect move as per our video analysis and now market at near to his resistance area that is 28.90 keep close that region and if market hold it then again drop expected from here. othewise not at all.
dont be lazy here.
GOOD LUCK
TRADE WISELY
SILVER Daily chart PivotVery critical level for Silver aka XAGUSD if it would be able to break the Pivot point it would get back to 31.50 otherwise we'll probably see 25.50 26 Level
XAGUSDThis is an update to the previous idea about XAGUSD. As expected, after accumulation and manipulation, and absorbing the sell-side liquidity, the price reacted from the zone of interest. Now, distribution should occur, and our further targets are the unabsorbed minor liquidity and, ultimately, the previous high. However, it is important to note that there is an imbalance along the way. The price might ignore this imbalance and continue as expected, or it could react to it, leading to a significant revaluation of the asset towards the liquidity marked by me on the chart below.
[SILVER SELL] at 28.827 TP=27.780 SL=28.988Robot # SILVER_102
Posted a trade, you can follow.
Trade details:
at 28.827 TP=27.780 SL=28.988
SILVER The Target Is UP! BUY!
My dear followers,
I analysed this chart on SILVER and concluded the following:
The market is trading on 27.917 pivot level.
Bias - Bullish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish
continuation.
Target - 28.864
Safe Stop Loss - 27.252
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.
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WISH YOU ALL LUCK
Long idea on SILVERBased on Fibonacci (prophetic style) and KUNTA pattern
Stop loss at 27.433
targets at 28.342 and 28.757
XAGUSD - Bullish TrendXAGUSD is breaking previous consolidation zone and making Higher High. it may continue its bullish trend.
SILVER Is Going Up! Buy!
Here is our detailed technical review for SILVER.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is on a crucial zone of demand 27.827.
The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 29.953 level.
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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SILVER BULLS WILL DOMINATE THE MARKET|LONG
Hello, Friends!
We are now examining the SILVER pair and we can see that the pair is going down locally while also being in a downtrend on the 1W TF. But there is also a powerful signal from the BB lower band being nearby indicating that the pair is oversold so we can go long from the support line below and a target at 29.312 level.
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Heading into 61.8% Fibonacci resistance?XAG/USD is rising towards the resistance level which is a pullback resistance that aligns with the 61.8% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 28.66
Why we like it:
There is a pullback resistance level which aligns with the 61.8% Fibonacci retracement.
Stop loss: 29.44
Why we like it:
There is a pullback resistance level which lines up with the 50% Fibonacci retracement.
Take profit: 27.63
Why we like it:
There is a pullback support level.
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Bearish reversal?The Silver (XAG/USD) is rising towards the pivot and could reverse to the 1st support.
Pivot: 28.67
1st Support: 28.03
1st Resistance: 29.42
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SILVER (XAGUSD): Detailed Technical Outlook & Buying Signal ↪️Silver is currently experiencing a slight downward trend in its trading on a daily chart. It is following a falling parallel channel and has recently consolidated within a horizontal range on a 4-hour time frame.
A bullish breakout above the support of this range indicates strength from buyers and suggests potential for further growth.
The first target for this upward movement is the current local high of 29.03. However, if the price rise above this level, it may grow to at least 30.00 psychological level then.
SILVER - BUY - DAILYSilver seems giving Reentry for Buying for Long
Good RR, And less Risk
Once can Go for Long for Swing.
XAGUSD - Bullish"The Price has given a breakout from double bottom neckline at 28.3588
Buyers will remain in control above necline support.
Along with forming Double Bottom, we have observed Bullish divergence. The uptrend is expected to remain valid till 30.4856
Silver vs SPXSilver /SPX ratio pivot appears to be complete...expect major move in silver along with possible pull back in spx to drive this ratio up substantially.
Silver (XAGUSD) how to construct a trade:Medium bullish take:
OANDA:XAGUSD is trading around the $30 price level for the first time in years. Is there a trade here? Could we see $40 by EOY? Let’s draw some charts:
We're trading in a Bullflag at the $30 level
Triple top, we're not quite ready to hold above the level
Find nearby price targets
Establish long term support lines
Use momentum indicators and price action to draw a reasonable path which engages the price structures you've established.
So according to our charts, we should expect a bounce above $27 Be mindful, there are exogenous events that push the price around. Shifts in the macro landscape will impact the path price takes.
For details, I've included a fun GIF, animating the construction of this chart. Check out my twitter for more!
NOTE: Original idea posted 7/23
SILVER BULLS WILL DOMINATE THE MARKET|LONG
Hello,Friends!
The BB lower band is nearby so SILVER is in the oversold territory. Thus, despite the downtrend on the 1W timeframe I think that we will see a bullish reaction from the support line below and a move up towards the target at around 29.455.
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