In my 2 days ago analysis on Silver I said that the rise from 24.50 is clearly corrective in nature and rallies towards 26 should be sold.
At the time of writing, Silver looks like it carved a local top and a lower high and it is resuming its bearish trajectory.
I'm bearish Silver in this context and I expect a new leg down under 24.
Gains should be very well...
After dropping around 18% from last week s top, Silver found support on Monday at 24.30 and started to rise.
The rise is clearly corrective in nature and it looks like a flag.
I expect gains to be very well capped around 26 resistance and we can expect a new wave of sales from here.
A good target for sellers can be 24.50
@ridethepig Silver Market Commentary 16.12.2020
=> It was no struggle for buyers to take out the diagonal resistance. Then, what comes next is a paralysing advance. Should some sellers wish to continue holding once the initial targets are hit then we can see capitulation.
Just like Gold, Silver also had a good start of the year with price breaking above pennant resistance and confirming its strong bullish trend.
As it was normal, 27.50 offered resistance and I believe this is just a pit stop in this uptrend
Yesterday Silver confirmed 26.80 as new support and I expect an acceleration to the upside once 27.50 is cleared
Silver has completed a nice clean pullback in its bearish trend so if you are not holder just cash here your assets and wait for the dip to complete then enter again
or a better option get the sell option of this situation too and then enter for buy when the trend touched green line that counts almost doubles your profit in that time
As I said before, in a bullish scenario, in my opinion, Silver has more to gain than Gold.
And as we can see from the chart, XagUsd has spent the last part of December above important horizontal support from 25 and also above the descending trend line. giving us a clear bullish bias.
Last days of 2020 the price of Siver consolidated and formed a pennant which also...
After reaching a top at 27.40, Silver dropped quickly to 25 zone support. The price acted like a falling ball, with this 25 as a floor and lower and lower rebounds.
On an H1 chart, we can see a small double bottom forming, with the neck-line at 25.50, resistance which coincides with the falling trendline. A break above would expose 26 important resistance in the...
As usual, Silver is more volatile than Gold, and yesterday's 500 daily range on XauUsd translated in more than 2500 pips volatility for Silver. But, also here, nothing is changed from a medium-term perspective. The drop from 27.40, although very violent, is nothing more than confirmation for 25 as strong support.
At the time of writing Silver is trading stable...
XAGUSD Silver has been a very profitable trade for us at the Sunday open, everything that we have detailed in our previous Silver XAGUSD analysis has unfolded to a T.
As I mentioned on the video, I was going to post a link for our other social media but just noticed that it violates the house rules, so I won't post any link here. Make sure you like & follow to...
As I said yesterday, I expect 23.50 support to hold and bulls can target 25 for their long trades.
Silver was very well bid yesterday all through the day and every dip was bought.
Now Silver is trading 1% above 24 figure and I expect a new challenge of 25 soon. A break above 24.30 should accelerate gains towards this target
XAG completed the double bottom formation. Now preparing for the uptrend. According to the elliot wave principle, the first wave is completed. Now it's time for the second wave. (The first target is determined based on the ending channel formation.)
A few minutes ago I made an analysis and explained why I'm bullish Silver in the long term.
Looking at H1 chart we can see that XagUsd is also bullish in the short term...
After the drop from 2 weeks ago and the low from Monday, Silver recovered quickly and price and up just under 24.50 zone important resistance.
In this H1 chart, we can clearly see that price is...