Massive rally done by #Silver now time to going to consolidation or correction zone 30.2/31$ is big hurdles.
Close above more upside seen else 1st ween some downside.
Silver keeps rallying and breaking the historical resistances.
The next goal for the buyers can be the structure that is based
on the highs of 2020 and 2021.
The area that unites these highs also has a psychological level within - 30.0.
The underlined blue will most likely reached soon.
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There are two potential paths, and either one could play out. Either an inpulse pattern or a corrective one.
The impulse (black count) should target the $100 level and could even reach the $200 price in a blow-off top.
The correction (red count) should target around the $45 price level. Then continue it's path to under $10.
It's too early to choose one over the...
Short term Elliott Wave view in Silver (XAGUSD) suggests that cycle from 3.27.2024 low is ongoing as a 5 waves impulse. Up from 3.27.2024 low, wave (i) ended at 25.38 and pullback in wave (ii) ended at 24.73. The metal extended higher in wave (iii) towards 27.33 and pullback in wave (iv) ended at 26.26. Final leg wave (v) ended at 28.32 which completed wave ((i))....
Hi guys,
Silver is heading back up to strong resistance where it faced selling pressure yesterday.
A bearish bat harmonic is forming at the moment with excellent fib ratios.
The red highlighted box has bat entry level of 0.886 and is in line with previous resistance.
Safe trading all.
Maybe because the instos are waiting to see if there'll be one last year-long shakedown!!
there's space in tehthesymmetry for it...
and that could crackk one more shoulder there
let's see!!
TVC:GOLD - TVC:SILVER ratio holds teh answer and it hasn't given it up yet.
On Monday, silver experienced a sharp downturn, revisiting the $22.00 mark, reflecting a more than 2.5% decrease from its previous close. Market participants swiftly adjusted their expectations of early rate cuts by the Federal Reserve (Fed), leading to a substantial sell-off in the white metal.
Technical Analysis:
From a technical standpoint, the current...
Take a look at our analysis for SILVER.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 27.932.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 27.486 level.
P.S
The term...
nice reakout from wedge, to wedge
#GSR is forming ih&S just above resistance but not confirmed, may jsut inhale and blow straight through! TVC:GOLD TVC:SILVER
