ForecastCity_World

💡Don't miss the great buy opportunity in SILVER

Long
FOREXCOM:XAGUSD   Silver / U.S. Dollar
Midterm forecast:
While the price is above the support 21.90, resumption of uptrend is expected.
We make sure when the resistance at 27. 40 breaks.
If the support at 21.90 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 23.95 on 01 /18/2021, so more gains maximum to Major Resistance (27. 40 ) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 62.

Trade Setup:
We opened 8 BUY trade(s) @ 24.93 based on 'Hammer' entry method at 2021. 01 .18.

Total Profit: 1584 point
Closed trade(s): 354 point Profit
Open trade(s): 1230 point Profit

Closed Profit:
TP1 @ 26.00 touched at 2021. 01 .21 with 107 point Profit.
TP2 @ 27. 40 touched at 2021. 01 .29 with 247 point Profit.
107 + 247 = 354 point

Open Profit:
Profit for one trade is 26.98(current price) - 24.93(open price) = 205 point
6 trade(s) still open, therefore total profit for open trade(s) is 205 x 6 = 1230 point

Take Profits:
TP1 @ 26.00
TP2 @ 27. 40
TP3 @ 28.45
TP4 @ 29.85
TP5 @ 31.25
TP6 @ 32.45
TP7 @ 33.45
TP8 Free

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ForecastCity English Support Team ❤️

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