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Here's a brief analysis of silver: 1. Resistance Area: The marked resistance zone is near the price level of 32.265. Price action indicates potential selling pressure at this level. 2. Target Area: The target area is marked near 30.957, showing a potential bearish target if the price fails to break the resistance zone and reverses. 3. Current Price Action:...

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Bearish Bias: Given the price action below EMAs, BOS, and negative momentum, a further downside move is likely. If the price fails to break above 30.600 (near EMA and resistance), it could retest the 30.000 level or even drop toward the demand zone around 29.800.

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Gap Open Observed: The gold market has a notable gap open at $2,747. Historically, gaps in price tend to close over time. Key Resistance Levels: $2,747: Gap open resistance. $2,759: October 23 swing high. $2,785: 261.8% Fibonacci extension (highlighted as a prime target by Elliott Wave traders). Support Levels: $2,724: Recent overnight base. $2,709: Swing low...

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Downward 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...

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The XAG/USD first resistance would be $35.00. Once cleared, the next stop would be the October 2012 high at $35.40, followed by the August 2011 peak at $44.22, and ahead of the all-time high at $49.83.

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Silver is consolidating near the 61.8% Fibonacci level, with a potential move upward if it holds support. I expect the price to rise to the 31.869 level while managing risk with a stop-loss near 30.721.

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This silver chart shows a bullish setup with a potential price target around 31.712, following a recent break of structure (BOS). The stop loss is set at 30.887, with a risk of 0.76%, while the take profit aims for a 1.90% gain. Price action is consolidating around equilibrium, indicating a possible continuation of the uptrend.

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the chart is displaying XAGUSD (Silver) price action on a 30-minute timeframe. The Fibonacci retracement tool is applied. Here’s a detailed analysis: 1. Fibonacci Retracement: The Fibonacci retracement levels are drawn from a swing high of 31.46259 to a swing low of 30.21607. Key Fibonacci Levels: 0% level (30.21607): Represents the low of the move. 38.2% level...

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US Dollar Holds Strong: The US Dollar Index (DXY) remained stable above 102.00, with traders cautious ahead of important US data releases, including FOMC Minutes and US CPI data. Investors are still expecting a 25 basis point rate cut in November. Key US Data to Watch: FOMC Minutes (Wednesday), US CPI data (Thursday). Other notable releases: Wholesale...

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Precious metals is at buying position. Resistance at $31.00 is closing the path towards the $3.40 high. Supports at $30.50 and $30.20.

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US oil prices are rising due to worries about the conflict in the Middle East getting worse. Tensions are keeping prices up, even though OPEC+ plans to increase oil supply soon. Oil is currently testing resistance at $75.15, with the next price targets at $77.20 and $78.45. Support levels for oil are at $74.00 and $71.00.

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Silver (XAG/USD) is looking for direction near recent highs. precious metals supported by geopolitical concerns. Resistance at $32.30 is closing the path towards the $32.65 high. Supports at $31.40 and $30.95.

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BOS means Break of Structure . It happens when the price of an asset (like a stock or currency) breaks past a key support or resistance level, indicating a potential change in the market direction. Key points: Uptrend BOS: If the price breaks above a recent high, it could mean the start of an upward trend. Downtrend BOS: If the price breaks below a recent...

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a Change of Character (CHoCH) signals a potential shift in market dynamics, often indicating a reversal from the prevailing trend. This concept is particularly valuable as it helps traders discern when the momentum is shifting, offering a strategic point to consider adjusting their positions.

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The Evening Star pattern is a technical analysis tool that signals an upward price momentum's reversal to bearish momentum. The pattern rarely appears, but it is considered a reliable bearish indicator. The Morning Star pattern is also a trend-reversal pattern, which is bullish and gives a buying signal.