There was a clear break of the downtred with wedge formation towards the end of 2016. A strong support was established at 17.20 (blue line). If it bounces back up, we might expect a new test of 18.50 level (green line). If key support line fails to hold, we could see price going as low as 16 to 15.80. Shorting seems like an interesting position in the short...
Today we would like to present you TVC:SILVER as it seems to decline in near future. Let us break down the analysis.
Starting with the fundamentals/macro overview as usual:
TVC:SILVER is currently not a very much watched instruments in the financial market, however it shows some interesting pattern. These pattern we would like to provide...
Looks Bearish As i can clearly see bears selling at top and no sign of bulls here same for gold as well short at price around 18.050 is nice price as this is very expensive now and no one like to hold this trade on long side.
Good luck Muze(xag/usd)
My vision on Silver is still the same as described over a month ago:
Price of XAGUSD reached 200 day moving average (green line) while 18.24$/oz is a 0.618 fibo.
Please also have a look at the stochastic indicators below the chart.
In my perception price of silver will move slightly up or...
This is the fifth time silver has found its self at this level. The previous times it failed miserably will this time be different? The Risk reward is very compelling! I would gladly take a lose if I am wrong on this one.
XAGUSD is in a possible 4th wave in an impulse Elliott wave series. This correction has potentially run its course indicated by the high level RSI. I will watch for the correction to either continue to the upside or begin the 5th wave and immediately retrace down to the 1st trend line. If it is indeed in an impulse Elliot wave, then it should continue its decline...
I am expecting a Drop on H4 Due to Following Reasons
Symetrical Triangle Breakout
H4 Short Does not Gonna Affect Monthly Silver Gains
Consolidating at this area for a long time
Let us see how this trade goes
Silver is creating a potential H&S pattern.
We have a bearish divergence.
As long as the red top TL is respected, sell the break of the Yellow TL.
SL 2 pips + spread above last high.
TP 1 15.50
TP 2 14.88