Hello traders, Silver in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe.
The wave count performed for the silver weekly time creates several movement scenarios, but in all of these scenarios an upward movement the size of wave (1) is confirmed in the current analysis.
In the current...
Unlike gold, it cannot be reused (only with large losses), and therefore its amount is constantly decreasing. Most of the demand for this precious metal, namely 60%, comes from industry.
Silver is limited, which means that its value will increase significantly every year. According to forecasts, based on the rate of silver production - the world's...
XAG/USD (SILVER) will push lower to make a new low below $22.6 and after that, it can push a little bit higher, but not above $23.7. Then it will go for one deep correction as a continuation of wave (2). In the alternative scenario (marked by red alpha numerals), we have already finished wave (2) @ $21.4. So right now, it's running expanded flat, and will soon...
Silver is coming back up off the yearly lows and has painted an inverse Head & Shoulders pattern which is now breaking out on the daily timeframe.
This has been triggered in part by yesterday's US Inflation rate data (YoY was 6.2% - the highest annual pace since Nov 1990). Similar price action can also be observed in other inflation hedges such as Gold and BTC...
time to long silver in the mid $22 area.
we are looking to enter between the gold pocket and 3day orderblock which also sandwiches a significant daily level and the poc for the previous up surge off of the news pump earlier this month.
Idea for silver, demonstrating the Head and Shoulders pattern that has repeated itself throughout a bull market and into the next bear market
Points in grey box are very similar also
As we have just finished forming the right shoulder, it is likely that price will decline, furthering the bear market for silver
As the 1D MA50 (blue trend-line) has been supporting Silver since late October, it is a good time for me to update my outlook on the metal. So far my September 30 trading plan remains valid:
As you see we caught the market bottom on that exact date...
SILVER is falling massively
And the price is down by 8% from the local high already
Which is a lot, and I think that Silver is oversold
Also, a strong horizontal support level is below
And I think that once retested
We will see a rebound and a bullish correction from the level
To retest the local...
Gold and Silver have both surged higher on the back of soaring US inflation and have reclaimed their status as inflation hedges after many months of not moving on Inflation data.
Gold moved $40 higher and Silver $1.80 as US printed 6.2% Y/Y headline inflation for October.
The Inflation debate is likely to remain for many months and each time its affirmed should...
XAUUSD trades just 10 USD below its short-term resistance. We will observe gold in the following days and we will look for potential strength that could elevate price above short-term resistance. In our opinion such occurence would be very bullish development for gold. Indeed, we expect it to cause resumption of uptrend in gold. Because of that we continue to be...
XAGUSD seems to have completed a head and shoulders pattern on its daily chart, it has also made extensive bullish moves which are now being supported at a resistance turned support.
We strongly believe that XAG could become highly bullish based on everything we see in the charts right now.
Some more downside could occur, but it shouldn't drop further than the...
✅SILVER broke yet another horizontal structure
Which indicates the inexhaustible strength of the bulls
Thus reinforcing my bullish bias
And I think that the price will keep going up from the level
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