Thread for XAG/USD discussion - latest news, technical analysis, forecasts and opinions.
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Thread for XAG/USD discussion - latest news, technical analysis, forecasts and opinions.
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In the market trend, SILVER is still in bullish / uptrend, but we must also anticipate a reversal if the price breaks the support area above and also price consolidation.
In the history of the candle, we can look for entry Buy opportunities, but in order to be more objective, I will present an analysis for buy or sell entries.
If we look at the chart above, the Buyer pressure (the length of the Green candle) slowly increases the price without being able to be opposed by the Seller pressure (the length of the Red candle) and forming a Higher Low.
This indicates that the Buyers still dominate the formation of certain price levels. However, we still can find opportunities in this SILVER commodity.
In the picture, I determine the Area Resistance through two lines above the price (15.35 - 15.32), for the Support area, we can see through two lines below the price (15.18 - 15.15).
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Silver landed during yesterday morning trades and continued to decline until the first support areas $15.16 as a result of pressure from sellers. During the course of the American session yesterday, she bounced from the first support to the areas of $15.32, this morning and with the failure of penetration of the first resistance areas as a result of the weak torque of the bulls landed towards the regions of 15.20 Silver trades in a downward trend. This trend is weakened by a failure to break the first support area and technical indicators that do not support the current downward trend.
It is expected that if you are in a $15.33 level, you may target the areas of $15.47. While, in the case of breaking $15.15 areas may target $14.97.
Support: 15.16 – 14.90-14.84.
Resistance: 15.32 – 15.42-15.57.
Direction: Bearish
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Silver price was not able to confirm the break of the 15.23 level, to trade remarkably positive today and attack the level of 15.35, which provides signals on the price orientation to resume the upward trend in the immediate and short term, regularly within the emerging channel appearing in the image, waiting to target the level 15.63 initially.Thus, we expect the price to be further increased unless 15.23 levels are broken and then 15.10 and steadiness without them.
Expected trading range for today between support 15.10 and resistance 15.50.
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Silver price trades were not subjected to sharp pressures as gold prices began with the start of the first morning session of this week, with the opening trading recorded declines of 15.10 levels and this came after the last weekly shutdown at the 15.30 levels, and yet we will continue to support The win scenario that we prefer to not break the $15.00 levels, and require re-achieve full penetration above the 15.30 levels in order to continue the impact of the expected positive outlook for today
Direction: Upward-we prefer not to break the levels of 15.00 and stability without them
Support: 15.00-14, 95-14, 90
Resistance: 15.30-15.35-15.40
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