Silver (XAGUSD) easily broke through the 25.000 Target we set 2 months ago (February 15, see chart below) and invalidated the Triangle pattern as it is entering into a new long-term Bull Cycle:
This was achieved as it broke above the 2-year Resistance Zone 1 and the Triangle transitioned into a Channel Up. Last week it hit Resistance Zone 2 and technically we...
Silver (XAGUSD) reached the 25.000 Target that we set more than a month ago (February 15, see chart below) easily surpassing the 0.786 Fibonacci level and getting heavily rejected exactly at the top (Lower Highs trend-line) of the 1 year Triangle pattern:
On July 20 2023, a rejection slightly lower started wave (e-f) towards the bottom of the High Volatility...
Silver (XAGUSD) almost reached the 25.000 Target that we set almost a month ago (February 15, see chart below) but as it seems to fail to touch the 0.786 Fibonacci level, it is time to take the profit earlier and turn bearish:
At least this is what took place on July 20 2023, a rejection that started wave (e-f) back inside the High Volatility Zone that...
Silver (XAGUSD) is on the 2nd straight green 1D candle, the strongest two day rally since December 14 2023. The natural technical Resistance is the 1D MA50 (blue trend-line) and if broken and the 1D candle closes above it, we will buy the break-out and target the 0.786 Fibonacci level at 25.000.
This is because based on the 1D RSI, the current Double Bottom...
Silver is on a neutral 1D technical outlook (RSI = 45.485, MACD = -0.282, ADX = 24.810) as despite a straight downtrend since December 22nd 2023, it has registered three successive green 1D candles that pushed the price over the LH trendline of the December 4th 2023 High and the 0.382 Fibonacci retracement level. Technically, if the price stays over the LH...
Silver has formed the Right Shoulder of a Head and Shoulders pattern.
A Right Shoulder targeted on August 30th target the previous Low/ Support.
Trading Plan:
1. Sell on the current market price.
Targets:
1. 22.520 (Support 1).
Tips:
1. The RSI (1d) is about to cross under the MA trend line. This will be the sell signal's confirmation.
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Silver has turned bearish on the 1D timeframe (RSI = 38.233, MACD = 0.035, ADX = 37.062) as it has been on a continuous decline since the December 4th top. The price is already under the 1D MA200 and the 1D MA50 and even touched the 0.382 Fibonacci level. The 0.236 - 0.382 Fibonacci range has been the most common Support since April but in order to rebound the...
Silver (XAGUSD) has hit a peak price amidst the geopolitical unrest this weekend (Red Sea attacks) and this is technically the Higher High of the medium-term Channel Up that started on the September 22 High. The 1D RSI is reversing already and as a target we have two technical candidates.
In the past 7 months we've had 5 major corrections, the minimum being...
Silver has failed to close a 1D candle over the 1D MA50 for four straight sessions and as it previously did on the 1D MA200, this is a bearish signal. Its confirmation is the 1D MACD that formed a Bearish Cross and each time the market has done so since April, inside this long term Channel Down, a new Low was made.
Even the 1D technical outlook just turned...
Silver (XAGUSD) is one of our favorite assets to analyze on the 1W time-frame, as a result of its high reliability of following long-term patterns. You can see a few examples of such successful trades we made using this time-frame below:
This time we have another major pattern forming on the 1W time-frame, an Inverse Head and Shoulders (IH&S), a...
Silver (XAGUSD) gave a solid rejection at the top of the long-term Channel Down (see chart below) when we looked into it on July 21 2023:
This rejection gave way to the creation of the current Bearish Megaphone pattern whose low got priced on October 04. This initiated the current bullish leg which tested the 1D MA200 (orange trend-line) and almost reached...
Silver hit the Rising Support of the bottom of the Triangle.
The sell off got more heavy after a Golden Cross on the (1d) time frame.
Even though based on the March 8th 2023 fractal there is one chance for a slightly lower bottom, those oversold levels are ideal for buying.
Trading Plan:
1. Buy on the current market price.
Targets:
1. 23.765 (Resistance 1 and...
Silver / XAGUSD is trading near the bottom of 15 month Channel Up with the 1day MA50 and MA200 on a parallel move.
The 1day RSI is on a Channel Up / Bullish divergence since May 25th and it is much like the bottom trade at the start of the Channel Up.
Buy and target 25.900 (bottom of Resistance A).
Previous chart:
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Silver (XAGUSD) gave a solid rejection at the top of the long-term Channel Up (see chart below) when we last looked into it on July 21 2023:
The price hit on Thursday the 1W MA50 (red trend-line), which gave the previous short-term rally in mid-August. As long as it holds (closes weekly candles above it), we expect a similar rebound, thus turning bullish...
Silver is on a strong decline after the August 30th rejection on the LH trendline. The price is naturally on a bearish 1D time-frame technically (RSI = 39.492, MACD = -0.033, ADX = 26.676) but an RSI reading below 35.000 has been a buy opportunity since the end of May. Ideally the buy entry would be as close to S1 (22.235) as possible. We will buy and target the...
Silver (XAGUSD) gave us a very successful sell trade on our last analysis (see chart below) on April 12:
The price rebounded right before hitting the 21.715 Pivot because it touched the 1W MA200 (orange trend-line). Even though May's rejection was done at the top (Lower Highs trend-line) of the Channel Down that started in August 2020, we may witness the...
Ladies and Gentlemen, step right up and let the show begin! Please welcome silver, our brilliant artistic performer, in the arena that is our chart… See next: a somersault into the orange zone between $24.45 and $25.05 to finish wave iv in orange, followed by a brave downwards leap to complete wave v in orange as well as wave (a) in blue. Watch with bated breath...
In this update we review the recent price action in the #Silver futures contract and identify the next high probability trading opportunity and price objectives to target
