Rupesh
Long

CORRECTIVE WAVE TIRED

FX:XAGUSD   Silver/U.S. Dollar
127 1 4
Technical outlook and chart setups:
Silver has just hit another low at $16.29 levels, and should find support around $16.00 levels going forward. Please also note that fibonacci 0.618 support level of rally between $14.80 and $18.00 levels is also seen at $16.00/05 as depicted here on the 4H chart view. Please note that the drop from $18.00 levels through $16.29 looks to be corrective in nature and a bullish reversal at $16.00 levels should be looked upon as opportunity to initiate fresh long positions. It is hence recommended to remain long for now, with risk below $16.00 levels. Immediate resistance is seen at $16.65/70 levels, while support is seen through $16.00 levels respectively.

Trading recommendations: Remain long for now, ADD ON DIPS, STOP LOSS CLOSE BLOW 15.90. Good luck!

WITH REGARDS
RUPESH KESARWANI


Trade active
Trade active: Dear Traders,
Good After Noon
Technical outlook and chart setups:
As per talk ----------
Silver remained just shy of $16.00 level yesterday and bounced off $16.15 level. The metal is seen to be trading at $16.40 level at this moment and seems it has formed a meaningful low yesterday. The wave structure reveals that the metal could be underway to push higher through $16.60 and subsequently above $17.40 level going forward. On the flip side, a break below $16.00 level should be encouraging to bears and would open doors for a test of $15.00 levels. It is recommended to remain long for now, with risk at $15.50 level.
Immediate support is seen at $16.00 level, while resistance is at $17.40 level.

Trading recommendations: Remain long for now, stop at $15.90, a target is open. Good luck!
WITH REGARDS
RUPESH
Trade active: PLEASE REVISED STOP LOSS FROM 15.90 TO 15.50
Technical outlook and chart setups:
Silver is seen to be trading at $15.97 levels for now after bouncing off $15.81 levels yesterday. The metal now seems to have formed an intermediary low at $15.81 levels and is looking to rally from here. Please note that the metal has bounced off the fibonacci support/convergence around $15.80/16.00 levels as depicted here. Also note that the past resistance turned support is also passing through the same region. A bullish turn around from here remains a high probability, and hence the recommendation is to remain long now, with risk below $15.50 levels. Immediate support is seen at $15.80 levels, while resistance is at $16.55 levels respectively.
Trading recommendations: Remain long, stop below $15.50 levels, target is open.
Trade closed: target reached: LOOK FOR EXIT FROM LONG AND WAIT FOR NEW SIGNAL WITH RECENT PRICE ACTION.
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