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Weekly forecast Silver technical chart
Symbol XAGUSD

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.
DateApril 25, 2020 - 16:06
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 14.500, beginning of uptrend is expected.
  • We make sure when the resistance at 16.550 breaks.
  • If the support at 14.500 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The Rising Wedge taking shape and as a bearish pattern suggests we will soon see another leg lower if price breaks and closes below uptrend.
  • A trough is formed in daily chart at 14.50 on 04/21/2020, so more gains to resistance(s) 15.60, 16.00 and maximum to Major Resistance (16.55) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 52.

Supports and Resistances:

  1. 15.60
  2. 13.60
  3. 12.05
  4. 11.25
  5. 9.40
  6. 8.45
  7. 7.65
  8. 7.00
  9. 6.20
  10. 5.45
  11. 4.40
Click on the level to view price action history.
Symbol Released Current Forecast
Silver (XAGUSD) new free Sun, 21 Apr 2024
Silver (XAGUSD) free Sun, 14 Apr 2024
Silver (XAGUSD) free Sat, 6 Apr 2024
Silver (XAGUSD) free Wed, 3 Apr 2024
Silver (XAGUSD) free Sat, 30 Mar 2024
History
Daily-Trading-Opportunities on XAGUSD.