Double top for Silver, possible reversalDouble top can be an extremely bearish pattern, now we wait for the price of XAG/USD to drop below the support level (neckline) indicated on the chart in order to target the price around $28. Shortby Samo_DaniloUpdated 115
SILVER (XAGUSD): Important Breakout I see a confirmed structure breakout on Silver. The price broke and closed below a key daily support cluster. Retesting the broken structure, we see a positive bearish reaction to that. I think that the fall will continue. Next support - 29.1 ❤️Please, support my work with like, thank you!❤️ Shortby VasilyTrader1111
SILVER BUYERS WILL DOMINATE THE MARKET|LONG Hello,Friends! We are targeting the 30.913 level area with our long trade on SILVER which is based on the fact that the pair is oversold on the BB band scale and is also approaching a support line below thus going us a good entry option. ✅LIKE AND COMMENT MY IDEAS✅Longby EliteTradingSignalsUpdated 115
Silver Trading Update for JuneCurrent Situation The initial short position entry at $30.52742 has been activated as the price has reached our first entry level. This position aligns with our overall bearish outlook for silver in June, based on seasonality, COT index insights, and technical analysis. Active Trading Plan A Current Position: Entry: Sell at $30.52742 Stop Loss: $30.93491 + Spread Take Profit: $26.82082 This position aims to capitalize on the anticipated pullback to a daily demand level, driven by seasonal weakness and bearish sentiment from smart money. Standby Trading Plan B Scenario: Price moves higher, providing a better entry point for a short position. Entry: Sell at $31.25125 Stop Loss: $31.80 + Spread Take Profit: $26.82082 Plan B remains on standby and will be activated if the price reaches the higher entry level, offering a favorable risk-to-reward ratio for another short position. Key Factors to Watch Seasonality: June's historically weak performance for silver. COT Index: Bearish positioning with a 1-year rolling score of 3.8% and a 3-year score of 2.3%. Technical Signals: Higher time frame break of structure, buy-side liquidity taken, and H4 imbalances. Next Steps 🕰️ With Plan A now active, we will monitor the market closely. Patience and discipline are crucial as we wait for the trade to unfold. Our stop loss is in place to manage risk, and our take profit level aims to capture significant gains if the anticipated pullback occurs. Conclusion 🧩 The activation of Plan A is a strategic move based on thorough analysis and disciplined trading principles. The bearish sentiment from smart money, combined with seasonal weakness and technical indicators, supports our short position strategy. We will continue to watch the market and adjust our plans as necessary, always prioritizing disciplined risk management. 🚀 Happy trading and may the markets be in your favor! Shortby Mike_SnD1
Silver - LongPersonal Journal entry Already entered trade is happening to fast based on Rule sheep parameters this is a 60% probability trade however over all trend is bullish probability that cycle just finishing and this is the start of a new Nice hammer engulf above box and there Taking ride up to 20 pips below EMALongby BetterBusinessBullyUpdated 3
Silver Rebounds: Key Support and Retracements in FocusThe price of silver has significantly retreated from its highs. On larger timeframes, strong hidden bullish divergences are currently visible. Additionally, the price of silver is in an important support area formed by volume. Slightly below are the 0.5% and 0.618% retracements of the upward movement since the beginning of May 2024. In this context, we find it justifiable to take the displayed long position.Longby OchlokratUpdated 3
SilverPair : XAGUSD ( Silver / U.S Dollar ) Description : Bearish Channel as an Corrective Pattern in Short Time Frame RSI - Divergence Break of Structure Completed " 12345 " Impulsive Waves Resistance Levelby ForexDetective2
Silver Squeeze Long IdeaI've made good money on silver playing both directions this year, but today I got my face ripped off on it. I think it could fail here at supply and head back to previous resistance before squeezing higher. If no bounce there, I'd say it is not looking great. Could lead to chop or more sell action. But, I think it'll be a good long for now, I might enter depending on how price reacts if this plays out.Longby AdvancedPlays2
Silver vs SPX WeeklyWith #silver up over 4.5% today... So has the ratio versus the #spx. Are you ready?by Badcharts112
SILVER On The Rise! BUY! My dear subscribers, This is my opinion on the SILVER next move: The instrument tests an important psychological level 30.4065 Bias - Bullish Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market. Target - 31.0378 About Used Indicators: On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment. ——————————— WISH YOU ALL LUCKLongby AnabelSignalsUpdated 117
SILVER Will Go Up From Support! Buy! Take a look at our analysis for SILVER. Time Frame: 12h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a key horizontal level 29.778. Considering the today's price action, probabilities will be high to see a movement to 31.980. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!Longby SignalProviderUpdated 119
SIlver cup and handleA textbook cup and handle has formed over the years on the silver chart. So far all the levels have worked like clockwork. Given the recent rally, geopolitical situation, and considering where we are in the market cycle according to Pring I think there are good chances to see silver at 45 $ in the next 12/16 months. Longby frapelloso3
The Price of Silver Is Acting Weaker Than GoldThe Price of Silver Is Acting Weaker Than Gold According to Reuters, precious metal prices have risen in the past 1-2 days as Treasury yields have fallen, enhancing metals' appeal as a "safe haven" for investor portfolios. Currently: → Expectations are growing that US interest rate cuts may begin as early as September; → Market participants are focusing on non-farm employment data and other US market data, set to be released on Friday at 15:30 GMT+3. In this context, it is notable that the gold market is clearly stronger than silver. The XAU/USD chart shows that the price of gold today rose above $2370 per ounce, a high not seen since 23 May, more than 10 days ago. Meanwhile, the price of silver experienced a decline of over 8% from 29 May to 4 June. Today’s rise appears to be an attempt by bulls to offset this bearish momentum, during which the price of gold remained stable. Technical analysis of the XAG/USD chart shows that: → Since March, there has been an upward trend in the market (indicated by a blue channel); → On 17 May, we noted in our analysis of the XAG/USD chart that we might witness a new bull attack on the psychological level of $30 per ounce of silver. Indeed, the bullish breakout occurred immediately after publication. → Following the breakout, the price of silver reached the upper boundary of the ascending channel (A), retreated to the key level of $30, and then formed a new peak (B), demonstrating an inability to reach the upper boundary – a bearish sign. Thus, a double top pattern has formed around the $32 per ounce level on the silver price chart. Additionally, the steepness of the ascending trend lines is decreasing (shown in green), indicating a potential exhaustion of demand – fewer buyers are willing to pay more than $30 per ounce of silver. The $30.80 level is already showing resistance. Bulls may attempt to break through it and resume the uptrend from the lower boundary of the channel, but there are no guarantees that this will subsequently activate demand forces around the double top area. Start trading commodity CFDs with tight spreads. Open your trading account now or learn more about trading commodity CFDs with FXOpen. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.by FXOpen2213
Is silver about to go BONKER!!??Good Day, Fellow traders and followers, IS SILVER ABOUT TO TO GO BONKERS?!?!?!? This chart is kind of busy, I don't normally make busy charts, but there is so much going on in this monthly chart. Lets dig in!! First off, lets start with the price action, it has clearly broken through resistance (blue line). Also, the price action is in a purple cup, that's actually the handle of the GIANT 40 YEAR cup and handle it has been in. The green lines are the support and resistance areas. Also I have added what seems to be a pattern of 50 bars bottom consolidation that does also happen to resemble a Wyckoff a pattern before a break out. Lets move on to the indicators RSI - I have drawn in a support band for the silver RSI. IT really likes the 46, 50 to 55 level before a break out. Going below here is either very bearish or the best buy in bull market. STOCHASTIC RSI - has had a massive cross recently on which chows momentum coming in to this market. RSI 3 LINES - WOW!! This looks like a serious power play for silver, ever since the RED line crossed down through the GREEN, it found support on the blue and turned right back up in big way!! Also it look like the BLUE could follow suit very soon which would confirm bullish movement for this asset as all the colors would be aligned. THE LAZY BEAR - This one is kind of a no brainer. Breaking out above and holding the 0 level usually leads to big moves higher!! ASO (SENTIMENT) - It looks like there is a 50 bar pattern here and within it could be another 12 bar pattern right before a break out. Please keep in mid every bar is monthly, so what might seem like a small pattern could be a year long. I want to add, I do believe there is a fairly substantial move coming to silver. I'm not sure where it would be going to0, however I do know that the last true resistance is at aprox $35 usd Getting above that on a monthly level could or should lead to NEW ALLTIME HIGHS in short order well above $50 usd to possibly $70 to $80 before a correction. Any Correction at that point would be considered a buying opportunity !! Please like and share this chart to all silver lovers! Also, any questions or comments are welcome down below!! Kind Regards, WeAreSat0shi Longby WeAreSat0shiUpdated 1110
SILVER: Bullish Continuation is Expected! Here is Why: The recent price action on the SILVER pair was keeping me on the fence, however, my bias is slowly but surely changing into the bullish one and I think we will see the price go up. ❤️ Please, support our work with like & comment! ❤️ Longby UnitedSignals114
Silver - 1H BullishSilver was in a bullish trend, and this descending channel can act as a bullish flag. The bottom of it can be good support for silver. As you can see on the chart, XAGUSD had a perfect reaction to that zone, indicating it can rise more.Longby Sober_Trading1112
Short-term correction for silver After strongly breaking the 2020 highs with a large green candle and some growth in volume, the asset is on a steeply sloping trend line that has found rejection in the $32-$31 zone. This can be seen in the last three red candles, with a shooting star type candle in the middle. If we zoom in and look at the chart on a daily timeframe, we will see how a double top pattern is being executed. We can also observe divergences in the Stoch RSI and RSI, both in oversold territory. A return to the resistance zone of the previous highs can be expected, now probably converted into new support. If you already have a position open, the correct thing to do would be to hold and otherwise open longs when the current correction has finished developing. Longby MCHVLL3
Silver Ascending WedgeSilver was fairly strong today, even when ES and NQ sold off shortly after open. I had been looking for a short on silver since it broke below a major trendline, but this ascending wedge is a much shorter term pattern. It's always good to have confirmations on both longer and shorter time frames, so I like this setup. However, silver has been volatile and has the potential for short squeezes that cause big moves, so it's important to manage risk properly on this.Shortby AdvancedPlays4
Silver Bullish outlookHI Traders. Silver is in a Corrections Structure after a bullish move. Right now we are at the buttom of the structure We see a double buttom and a HeadnShoulder Pattern, what shows us the bulls are coming back. Target should be at least the high of the structureLongby ltdcrack88Updated 4
Heading into 61.8% Fibonacci resistance?Silver (XAG/USD) is rising towards the pivot and could reverse from this level to the 1st support. Pivot: 31.307 1st Support: 29.779 1st Resistance: 32.289 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party. Shortby ICmarkets4
XAGUSD Double TopOn the daily chart, XAGUSD has formed a double top pattern, and the downside risk in the future is relatively large. At present, we can pay attention to the resistance near the neckline of 30.0. If the rebound is blocked at this position, we can consider selling. The target below is the support near 27.5.Shortby XTrendSpeed4
SILVER LOCAL LONG| ✅SILVER will soon retest a key support level of 30.10$ So I think that the price will make a rebound And go up to retest the supply level above at 30.60$ LONG🚀 ✅Like and subscribe to never miss a new idea!✅ Longby ProSignalsFx112
Silver Sell OpportunitySell Opportunity: The pair presents an enticing sell opportunity at the current price of 30142, with favorable potential for profit. Targets: Primary Target: 29.476 Secondary Target: 28.032 Breakout Scenario: In the event of a breach above the resistance level of 30.928, indicative of a bullish breakout, the target price is anticipated to ascend towards 31.760. Technical analysis indicates a notable selling sentiment prevailing in the market at the present price level. Fundamental factors align with the proposed sell strategy, suggesting downward pressure on the Silver pair. Prudent risk management measures should be employed to mitigate exposure to potential adverse market movements. Disclaimer: This analysis is provided based on current market conditions and historical price data. Traders are advised to conduct independent research and exercise caution, employing appropriate risk management techniques, before executing any trading decisions.Shortby GODOCM1