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Silveranalysis

Silver Fails At Top of Range . . . Now what?Silver: Daily Fibs and Indicators: Silver has a bull fib objective that takes it to 28.86, a massive move. It held it's 61.8% line in October 23 and was on it's way until December 23 when it stopped at the high of it's daily range. We traded down early in the year, only to test that high again htis past week. And, we are selling off of it again. We can't trust gold to go higher if Silver doesn't make a new high here. Silver lost it's embedded reading of the past 4 days. Big test for silver is 24.21, the BB midpoint, and the bull fibs from lows. that 23.55 level was resistance and the fact that it's the 61.8% line and support could be very key to support here. IMO, that would be a good place be a buyer for silver.
COMEX:SI1!
by CeresTrader
Short Silver on COT Force PushThe markets are really all about finding patterns and taking advantage of such forcefully. With Silver, the commercial producers and bullion banks tend to exert the most amount of market influence upon its price. The reason is that Silver is primarily an industrial metal sensitive to economic demands and also due to the fact that unlike gold, it is primarily mined as a by-product through the mining of other metals such as copper, iron, aluminum, etc. If one can recognize the behavior of Silver once the commercial entities are starting to sell in larger then usual amounts, we can catch the downside action just as it starts to occur. In addition, the price action through the evident "force push" when the price is forced to a quick swing high and abruptly u-turned tends to signal that a price reversal is being confirmed. Today we have witnessed such event take place and we are now getting in position for an estimated $3+ decline in the price of silver in the coming weeks.
COMEX:SI1!Short
by kaotic363
Gold and Silver We had a nice week for gold and silver. Both rallied higher as DXY fell and reached below 103. The level that we have been waiting for in the past weeks. Now that DXY had a nice weakly bearish candle closing below 103, what should we expect for gold and silver? Would this rally continue this week as well? I don't know. I'm just enjoying the ride. However, there will be always a correction. so let's talk about that. As you can see silver exactly followed our green scenario in the past three weeks. Gold also moved in the direction we expected and surprised me with its vertical move. 😁 I think this week we can also see green weekly candles in gold and silver and a big red candle in DXY. However, in case of a correction at THESE PRICES, these are my expected levels for gold, silver, and DXY. GOLD: A strong support for gold would be $2040 - $2080 area. SILVER: A strong support for silver would be $23 - $23.5 DXY: A strong resistance for DXY would be 103.5
OANDA:XAUUSD
by SamanFx0
Silver Surges as Market Anticipates Rate Cuts In a flurry of market activity, silver ( TVC:SILVER ) has emerged as a frontrunner alongside gold, propelled by expectations of impending rate cuts and a shifting investment landscape. With both precious metals experiencing a surge in demand, investors are flocking to commodities like XAU and NASDAQ:XAG , diverting cash from bonds in favor of tangible assets. Gold's ascent above $2,100 and silver's trajectory towards $24 reflect the growing optimism surrounding precious metals. Technical analysis paints a bullish picture, with silver completing a 50% retracement of recent corrections and finding support from the 200 moving average on the tradingview chart depicted. The formation of a bullish hammer candlestick pattern further bolsters sentiment, signaling a potential reversal in fortunes. Further ascertaining to Silver's Bullish surge, is the formation of a Symmetrical triangle pattern on the chart. As silver charts its upward trajectory, market observers closely monitor technical indicators for further confirmation of the bullish trend. The monthly chart hints at a bullish reversal in March following February's retreat, pointing towards sustained momentum for silver ( TVC:SILVER ) in the near term. Beyond technical signals, analysts foresee a promising outlook for silver ( TVC:SILVER ) demand in 2024, driven by a projected 1-1.5% increase in global consumption. Industrial demand is expected to lead the charge, fueled by growth in sectors such as photovoltaic (PV) and automotive industries. This surge in industrial usage, coupled with a turnaround in jewelry and silverware demand, underscores silver's ( TVC:SILVER ) resilience and versatility as a coveted commodity. With silver ( TVC:SILVER ) poised to capitalize on robust industrial demand and renewed investor interest, traders and investors are eager to capitalize on the metal's upward trajectory. As silver shines brighter on the investment landscape, its role as a strategic asset class is reaffirmed, offering investors a hedge against economic uncertainty and a gateway to potential profits in an evolving market environment. As the bullion boom gains momentum, silver stands at the forefront, ready to seize opportunities and pave the way for lucrative returns for savvy investors. Amidst shifting market dynamics and economic uncertainties, silver ( TVC:SILVER ) remains a steadfast symbol of resilience and wealth preservation, beckoning investors to embark on a silver-lined journey towards financial prosperity.
TVC:SILVERLong
by DEXWireNews
Silver- Will it catch up with Gold?Similar to Gold, Silver also began the year poorly. After finding support just under $22, it started trading in a range. A few hours ago, the price managed to break above the range's resistance, indicating a bullish outlook. However, unlike gold, silver has lagged behind in its performance since the start of the year. In my opinion, this gap will be filled, and we can expect the price of silver to reach around $25 soon. I'm looking to buy dips, with the price at the beginning of the year as my target.
OANDA:XAGUSDLong
by Mihai_Iacob
SILVER DAILY XAGSHORTS $23.9 - $24.1 Confluences: 50 Fib, Key Level, $24 Round Number $24.4 - $24.5 Confluences: 61.8 Fib, KL, Added Confluence if 50 Fib fails/small reaction (under $0.50) LONGS $21.45 - $21.3 Confluences: 88 Fib + KL $20.8 *ONLY IF $21.45-$21.30 FAIL* Confluences: Recent Lows Most of the time I will use these Zones for added confluence on gold as opposed tot aking the trade, however, if there is a strong move into the zone, with market flows in play (stocks/fear/usd) I will take the trade.
ICMARKETS:XAGUSD
by Kensei_FX
SILVER.. where is next support of silver? will hold or not??#SILVER... very smooth ride below your area as we discussed in our last couple of ideas regarding silver. congratulations to all followers, now its time to wakeup guys because now we have 2nd area of the month and week actually, that is 21.87 around, keep close that support zone and keep in mind that next selling ride will start below that area otherwise not at all. it will play key role in next move of market. don't be lazy here. good luck trade wisely
OANDA:XAGUSD
by AdilHussain731333
SILVER 4H : Retest and then will rise up SILVER New forecast The price of silver ended last Friday's trading with strong negativity, settling below the 23.00 level and confirming the shift to decline, on its way to testing the 22.21 level initially, and we are likely to break this level to achieve additional negative targets up to 22.00 level and then will rise up again . Therefore, a bearish bias will be likely for today, supported by the negative pressure formed by the moving average 50, taking into account that breaching 23.00 will stop the expected decline and push the price to recover again. The expected trading range for today it will be between support 22.00 and resistance 23.00 . Additionally ,Today News will affect on the market . resistance line : 22.60 , 23.00 support line : 22.21 , 22.00 Attention : We don't have any group in telegram be careful about scammer. Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
OANDA:XAGUSDLong
by Arazmajeed
3
"Silver's 44-Year Cup and Handle Formation"Silver: 44-Year Cup and Handle Formation Points to Bullish Continuation Silver, a timeless asset with a rich history, is capturing the attention of investors as it forms a 44-year cup and handle pattern, signaling potential bullish continuation. The current compression of the handle, coupled with a bullish pennant setup, suggests that a breakout could herald the onset of the next major bull cycle. Let's explore the dynamics of silver and the promising prospects it holds for investors. Understanding Silver's Cup and Handle Formation Silver's cup and handle formation is a classic technical pattern characterized by a rounded bottom (the cup) followed by a consolidation period (the handle). This pattern typically signifies a period of accumulation and sets the stage for a potential breakout to higher levels. With the cup spanning 44 years, the formation holds significant historical significance and suggests a prolonged period of bullish sentiment. Compression of the Handle and Bullish Pennant Setup Currently, silver's handle is undergoing compression, indicating a tightening range of price movement. This consolidation phase is often accompanied by diminishing trading volumes, reflecting indecision among market participants. Additionally, the formation of a bullish pennant within the handle further reinforces the bullish bias, as it typically precedes a continuation of the prevailing uptrend. Breakout Signal for the Next Major Bull Cycle A breakout from the handle's compression zone is anticipated to signal the beginning of the next major bull cycle for silver. This breakout would validate the cup and handle pattern, confirming the bullish continuation thesis and potentially unleashing a significant upward move in silver prices. Traders and investors alike are closely monitoring key resistance levels for signs of a decisive breakout, which could mark a pivotal moment for silver markets. Conclusion: Positioning for Bullish Momentum in Silver In conclusion, silver's 44-year cup and handle formation, coupled with the compression of the handle and bullish pennant setup, suggest that the precious metal is poised for bullish continuation. As traders await a breakout signal for the next major bull cycle, strategic positioning and prudent risk management are essential for capitalizing on the potential upside in silver markets. With the historical significance of the pattern and the technical indicators aligning, silver enthusiasts are eagerly anticipating the next chapter in its enduring journey as a sought-after asset.
TVC:SILVERLong
by UnknownUnicorn2319099