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ForecastCity_World
Feb 14, 2021 3:57 PM

💡SILVER (XAGUSD) - Weekly Technical Analysis Update 

Silver / U.S. DollarFOREX.com

Description

Midterm forecast:
While the price is above the support 21.90, resumption of uptrend is expected.
We make sure when the resistance at 29.85 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 25.88 on 02/04/2021, so more gains to resistance(s) 27.40, 28.45 and maximum to Major Resistance (29.85) 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 57.

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Comments
Best_Forecast
nice update. well done
ForecastCity_World
Pro_Trader_007
Well done. 👏
ForecastCity_World
@Pro_Trader_007, Thank you
Lizabet
Love the update. Thank you Forecast city
ForecastCity_World
@Lizabet, You're welcome! Thanks for your comment
Sir_Ray
good update & i agree you
ForecastCity_World
@Sir_Ray, Thanks
MMBTtrader
nice chart thanks for sharing
ForecastCity_World
@MMBTtrader, You're welcome! Thanks for your comment
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