Silver XAG/USD Analysis --- 23.10.2024The XAG/USD first resistance would be $35.00. Once cleared, the next stop would be the October 2012 high at $35.40, followed by the August 2011 peak at $44.22, and ahead of the all-time high at $49.83.
XAGUSDG trade ideas
Silver may have a hard correction of this rally A bearish divergence is forming in #silver #xagusd chart. A correction is necessary soon. Not financial advice.
Top 5 Weekly Trade Ideas #4 - Silver LongThis is another recycled idea from past weeks. It's zoomed in on the 15m, zoomed out shows the bull flag I recently posted about. It hit target #1 pretty quickly, but also double topped there. Pretty rough day today, but it held on a retest of the bull flag for a second time, also didn't make a new lower low. I think if it can clear that double top, it could see a big move up to at least 37.
The case against this is the fact that DXY and treasury yields are rising after the last jobs report. You wouldn't normally want to bet on precious metals while that's happening, but that stuff has been all over the place. We have war tensions and other things like CPI and Hurricane Milton coming later this week so I don't claim to know what's about to happen. If things get chaotic and silver is able to breakout above 32.50 I'll be confident in that at least.
Exploring Silver’s Recent Performance: Insights by André CardosoFX_IDC:XAGUSD
Silver’s Recent Breakout and Momentum
Silver has shown impressive bullish momentum after breaking through the stubborn resistance level at $32.95. This breakout has set the stage for a potential uptrend, fueled by strong buying activity.
Navigating Overbought Conditions and Historical Patterns
Since October 11th, silver has been consistently in overbought territory. It’s important to note that similar instances in the past have often preceded downward corrections, as evidenced in the corrections observed in August and September.
Fibonacci Extensions and Support Levels
Silver is currently approaching the 161.8% Fibonacci extension from its recent low between October 4th and 8th, which experienced an 8.65% decline. Subsequently, the market reacted positively, nearing the formation of a potential bearish crab pattern.
Identifying Potential Bearish Signals
Watch for signs of the bearish crab pattern forming around the $34.72 mark. This pattern could signal a shift in silver’s recent upward trend, potentially leading to a retracement towards previously breached major resistance levels, particularly around $32.51.
Strategic Moves for Savvy Investors
For long-term investors, the former resistance level, now acting as support at $32.51, is a critical focal point. Monitoring this level closely can guide strategic decisions on position adjustments and navigating the silver market effectively.
André Cardoso
I shorted the Silver price a short time ago at 34.44
This trade is doing well, volatile until sellers properly formed, but I won't be shorting it for long as this is only a small correction I feel.
Gold and Silver have been delivering Long trades so well lately, that their price has to adjust a bit downwards before the next session. IE. New York. You would've maybe noticed Gold and Silver sold off at the end of New York yesterday, but smart money moved in with buy orders with a fair 'hunch' that the precious metals prices would continue their ascent in the Asia Tuesday session.
Silver should struggle near the 161% extension Intraday Update: Silver is nearing the 161% extension as pullbacks have been shallow. With intraday RSI's divergent, that would suggest the 34.78 level will be key resistance on this rally.
Is Silver About to Rewrite the Rules of the Global Financial GaIn a remarkable twist of market dynamics, silver – long overshadowed by its golden cousin – is positioning itself for what could be its most dramatic transformation in decades. Russia's unprecedented decision to add silver to its central bank reserves has sent shockwaves through the precious metals market, potentially signaling a fundamental shift in how central banks view this dual-purpose metal. This strategic move, combined with a staggering supply deficit of 663 million ounces projected through 2024, suggests we may be witnessing the early stages of a historic price realignment.
The numbers tell a compelling story: a 41% price surge year-to-date, pushing above $33.89 per ounce, with analysts projecting potential moves beyond $40 before year's end. Yet it's not just the price action that's turning heads. The convergence of industrial demand from emerging technologies, particularly in renewable energy and electronics, alongside traditional investment demand, has created a unique supply-demand imbalance. This structural deficit, coupled with major central banks' expected rate cuts in 2024, could catalyze a powerful upward price trajectory.
Perhaps most intriguing is the current gold-silver ratio of 81:1, sitting well above its historical average of 55:1. This disparity, viewed alongside Russia's groundbreaking policy shift, raises a provocative question: Are we witnessing the early signs of a new monetary paradigm where silver reclaims its historical role as a strategic reserve asset? For investors and market observers alike, the unfolding story of silver in 2024 may well represent one of the most compelling opportunities in the precious metals space – a narrative where industrial necessity meets monetary revolution.
Silver's point & figure chartRoad map to 48$.
While the crowd sleeps... this is unfolding before our eyes.
#silver #xagusd
SILVER: Local Correction Ahead! Buy!
Welcome to our daily SILVER prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the upside. So we are locally bullish biased and the target for the long trade is 34.63460$
Wish you good luck in trading to you all!
XAG/USD Analysis: Silver Price Approaching $35XAG/USD Analysis: Silver Price Approaching $35
Precious metal prices are fluctuating near multi-year highs due to safe-haven demand driven by:
→ Uncertainty surrounding the U.S. elections,
→ Ongoing tensions in the Middle East,
→ Expectations of central banks lowering interest rates.
As seen on the XAG/USD chart, silver prices:
→ Are near their highest levels in 12 years,
→ Are approaching the $35 mark,
→ Have risen by over 43% since the start of the year.
Technical analysis of the XAG/USD chart indicates that silver is following an upward trend (shown in a blue channel), with the current price near its median line. This suggests a potential balance between supply and demand, which could stabilise price fluctuations.
Key observations:
→ A red resistance line on the chart reflects a corrective phase within the blue channel.
→ Breaking through this resistance in September triggered a strong bullish impulse (marked by a blue arrow).
→ This impulse was so robust that it pushed the price above the psychological $30 level, turning it into support.
A similar pattern might emerge in the future. After another strong bullish move (marked by a second blue arrow), the $32.5 level could also become a support area.
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.
SILVER Will Go Lower From Resistance! Sell!
Here is our detailed technical review for SILVER.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 34.118.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 30.110 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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SILVER SELLERS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
The BB upper band is nearby so SILVER is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 32.444.
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XAUUSD PROJECTION As you can see price is literally in an uptrend but we can see a breakout from the supply zone which Will now be our demand zone and DZ is a buying zone. Retracement and exhaustion
Silver Set to Test Support Amid Bullish MomentumHello,
OANDA:XAGUSD has seen recent highs, and silver is now set to test support levels. The expectation is for continued bullish movement until a solid resistance point is established.
TradeWithTheTrend3344
SILVER - Potential long trade !!Hello traders!
‼️ This is my perspective on SILVER.
Technical analysis: Here we are in a bullish market structure from daily timeframe perspective, so I look for a long. My point of interest is imbalance filled + rejection from trendline and LZ.
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Silver (XAG/USD) Red Alert Technical Update📉 Silver (XAG/USD) Technical Update
Resistance at 34.40 met! 🛑
Expecting a drop towards 33.00 first, followed by 30.00 as the next target if bearish momentum continues. 📉💡 Keep an eye on these key levels!
#Silver #XAGUSD #Forex #Commodities #TradingView #PriceAction #TechnicalAnalysis
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The Low Hanging Fruit Stacey Burke setup, with Silver R4,5 shortIn this video, I walk you through my entire thought process during today's trading session. You'll learn how I selected the pairs and executed three key trades:
Silver 3 Sessions of Rise Reversal short
DJ30 Low Hanging Fruit Continuation short
I'll also provide a detailed explanation of the Low Hanging Fruit setup, helping you understand how to apply this strategy in your own trading. Low Hanging Fruit is a key best trade setup of Stacey Burke. Don't miss out on these valuable insights and tips!
For details on the Stacey Burke style trading approach see his site and playbook: https://stacey-burke-trading.thinkifi...
XAGUSD Potential BuyTime Frame:
- Daily: (FVG Identification)
- H4 Entry Signal
1. Trend Confirmation:
Identified a Break of Structure by the break of the previous resistance at 32.50 - 32.75 area, indicating a continuation in market sentiment.
2. Fair Value Gap (FVG):
On the daily chart noted a Fair Value Gap (FVG) between 32.00 - 33.45.
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Disclaimer
The analysis and content provided here are intended solely for personal journal and educational purposes. This information does not constitute financial advice, investment advice, or a recommendation to buy or sell any securities. Trading involves significant risk, and you should only trade with money you can afford to lose. Past performance is not indicative of future results. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions.
Silver to the moon? Silver squeeze loading Silver is about to break $49, once it breaks this high. It will aim to move towards $70.
#XAGUSD breakout continues#XAGUSD silver gave breakout of APR 23 high in APR 24 (from 26 to 32.5 in less than 50 days). Now again breakout continues by breaking May 24 highs in Oct 24.
SILVER (XAGUSD): The Next Historic Resistances
As a bull run continues on Silver,
here are the next historic resistances to focus on.
Resistance 1: 34.0 - 34.4 area
Resistance 2: 34.7 - 35.4 area
Resistance 3: 37.0 - 37.5 area
Consider these structures for pullback/breakout trading.
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