Weekly XAGUSD Technical Analysis and Forecast - Commodities - Forecast City

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Weekly forecast		Silver technical chart
Symbol	XAGUSD	Download MT4 template file Trading suggestion: By appearing primary signs of entering the market, new entry zone and short-term targets would be published.
Date	August 29, 2020 - 14:56
Current	range bound
Forecast	beginning of downtrend
Midterm forecast: While the price is below the resistance 29.850, beginning of downtrend is expected. We make sure when the support at 19.650 breaks. If the resistance at 29.850 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased. While the RSI support #2 at 45 is not broken, the probability of price decrease would be too low. A trough is formed in daily chart at 26.00 on 08/21/2020, so more gains to resistance(s) 28.35 and maximum to Major Resistance (29.85) 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 60. Supports and Resistances: 18.95 Support on 07/17/2020 Resistance on 07/09/2020 Resistance on 02/24/2020 Resistance on 11/10/2016 Resistance on 11/09/2016 Support on 09/29/2016 Support on 09/28/2016 Support on 09/27/2016 Support on 09/12/2016 Support on 09/09/2016 Resistance on 09/01/2016 Resistance on 08/30/2016 Resistance on 08/26/2016 Resistance on 08/24/2016 Resistance on 09/11/2014 Support on 09/09/2014 Support on 09/08/2014 Support on 09/05/2014 Support on 06/10/2014 Support on 06/09/2014 Support on 06/06/2014 Support on 05/29/2014 Support on 05/28/2014 Support on 05/02/2014 Support on 05/01/2014 Support on 04/24/2014 Support on 01/30/2014 Support on 12/31/2013 Support on 12/04/2013 Support on 12/03/2013 Support on 07/10/2013 Support on 07/09/2013 Resistance on 06/27/2013 18.20 Support on 07/08/2020 Resistance on 07/01/2020 Resistance on 06/30/2020 Resistance on 06/10/2020 Resistance on 02/26/2020 Resistance on 02/18/2020 Resistance on 01/09/2020 Resistance on 01/06/2020 Resistance on 01/03/2020 Resistance on 11/04/2019 Resistance on 10/31/2019 Resistance on 10/25/2019 Peak on 10/25/2019 Resistance on 09/13/2019 Support on 08/30/2019 Resistance on 08/27/2019 Resistance on 09/08/2017 Resistance on 04/20/2017 Support on 04/18/2017 Support on 04/12/2017 Resistance on 03/28/2017 Support on 03/01/2017 Support on 02/28/2017 Support on 02/27/2017 Resistance on 02/23/2017 Support on 06/30/2016 Resistance on 06/24/2016 Resistance on 01/27/2015 17.50 Support on 06/26/2020 Support on 06/25/2020 Resistance on 06/18/2020 Support on 06/11/2020 Support on 06/09/2020 Support on 06/04/2020 Support on 06/03/2020 Resistance on 05/28/2020 Resistance on 05/19/2020 Resistance on 05/18/2020 Resistance on 03/09/2020 Resistance on 03/06/2020 Resistance on 03/05/2020 Resistance on 03/03/2020 Support on 02/05/2020 Support on 02/04/2020 Support on 11/06/2019 Support on 11/05/2019 Support on 10/24/2019 Resistance on 10/17/2019 Resistance on 09/30/2019 Support on 09/27/2019 Support on 09/18/2019 Support on 08/26/2019 Resistance on 08/23/2019 Resistance on 08/13/2019 Resistance on 01/29/2018 Resistance on 01/26/2018 Support on 09/01/2017 Resistance on 08/30/2017 Resistance on 08/28/2017 Support on 06/07/2017 Support on 06/06/2017 Resistance on 04/27/2017 Support on 03/24/2017 Resistance on 03/16/2017 Resistance on 03/08/2017 Support on 02/10/2017 Resistance on 02/03/2017 Resistance on 11/14/2016 Support on 10/28/2016 Support on 10/27/2016 Support on 10/25/2016 Support on 10/24/2016 Support on 10/21/2016 Support on 10/20/2016 Resistance on 10/17/2016 Resistance on 10/14/2016 Support on 10/10/2016 Support on 10/05/2016 Resistance on 06/21/2016 Resistance on 06/20/2016 Resistance on 06/17/2016 Resistance on 06/15/2016 Resistance on 06/14/2016 Resistance on 05/11/2016 Resistance on 05/06/2016 Support on 05/02/2016 Support on 04/29/2016 Resistance on 04/21/2016 Resistance on 05/15/2015 Resistance on 05/14/2015 Resistance on 02/05/2015 Resistance on 02/04/2015 Resistance on 02/03/2015 Support on 01/27/2015 16.50 Support on 03/09/2020 Support on 02/28/2020 Support on 12/09/2019 Trough on 12/09/2019 Support on 12/06/2019 Support on 08/13/2019 Resistance on 08/06/2019 Resistance on 08/05/2019 Resistance on 07/26/2019 Resistance on 07/23/2019 Resistance on 07/19/2019 Resistance on 02/27/2019 Resistance on 06/25/2018 Resistance on 06/22/2018 Resistance on 06/19/2018 Support on 06/15/2018 Resistance on 06/05/2018 Resistance on 06/04/2018 Resistance on 06/01/2018 Resistance on 05/31/2018 Resistance on 05/30/2018 Resistance on 05/29/2018 Resistance on 05/28/2018 Resistance on 05/21/2018 Resistance on 05/17/2018 Resistance on 05/15/2018 Resistance on 05/09/2018 Resistance on 05/08/2018 Resistance on 05/03/2018 Resistance on 05/02/2018 Resistance on 04/30/2018 Support on 04/26/2018 Support on 04/25/2018 Support on 04/11/2018 Resistance on 04/09/2018 Resistance on 04/06/2018 Resistance on 04/04/2018 Resistance on 03/28/2018 Support on 03/27/2018 Support on 03/26/2018 Support on 03/14/2018 Support on 03/13/2018 Support on 03/12/2018 Support on 02/23/2018 Support on 02/14/2018 Support on 02/13/2018 Support on 02/05/2018 Support on 12/27/2017 Support on 11/29/2017 Support on 10/06/2017 Support on 10/04/2017 Support on 10/02/2017 Support on 08/03/2017 Support on 08/02/2017 Support on 07/28/2017 Resistance on 07/25/2017 Resistance on 07/24/2017 Resistance on 07/21/2017 Support on 06/30/2017 Support on 06/27/2017 Support on 06/26/2017 Support on 06/23/2017 Support on 05/18/2017 Resistance on 05/12/2017 Support on 01/11/2017 Support on 01/10/2017 Resistance on 01/04/2017 Resistance on 01/03/2017 Support on 12/05/2016 Support on 12/02/2016 Resistance on 12/01/2016 Resistance on 11/25/2016 Support on 11/22/2016 Support on 11/21/2016 Support on 11/18/2016 Support on 11/17/2016 Resistance on 06/07/2016 Resistance on 06/06/2016 Resistance on 05/26/2016 Resistance on 06/04/2015 Support on 06/03/2015 Support on 05/28/2015 Resistance on 05/11/2015 Resistance on 05/08/2015 Resistance on 05/04/2015 Resistance on 04/27/2015 Resistance on 04/17/2015 Resistance on 04/16/2015 Resistance on 04/13/2015 Resistance on 04/10/2015 Support on 04/08/2015 Support on 04/01/2015 Support on 03/31/2015 Resistance on 03/03/2015 Support on 02/27/2015 Support on 02/06/2015 Support on 01/14/2015 Support on 01/13/2015 15.85 Resistance on 05/14/2020 Resistance on 04/14/2020 Resistance on 03/13/2020 Resistance on 02/18/2019 Resistance on 02/11/2019 Resistance on 02/08/2019 Resistance on 02/06/2019 Resistance on 01/29/2019 Resistance on 01/04/2019 Resistance on 07/17/2018 Support on 12/15/2017 Support on 12/14/2017 Resistance on 07/11/2017 Support on 07/05/2017 Support on 01/03/2017 Support on 12/30/2016 Support on 12/28/2016 Support on 12/21/2016 Support on 12/20/2016 Support on 12/19/2016 Support on 12/15/2016 Support on 06/01/2016 Support on 05/30/2016 Support on 04/14/2016 Support on 04/12/2016 Resistance on 03/23/2016 Resistance on 03/21/2016 Resistance on 02/11/2016 Support on 10/28/2015 Resistance on 10/26/2015 Resistance on 10/23/2015 Resistance on 10/22/2015 Support on 10/15/2015 Support on 10/14/2015 Support on 10/07/2015 Resistance on 07/13/2015 Resistance on 07/06/2015 Support on 06/19/2015 Support on 06/16/2015 Support on 06/15/2015 Support on 06/12/2015 Support on 06/11/2015 Support on 05/01/2015 Support on 04/30/2015 Support on 04/21/2015 Support on 04/20/2015 Support on 03/19/2015 Support on 03/06/2015 Support on 11/19/2014 Resistance on 11/11/2014 Resistance on 11/10/2014 Resistance on 11/07/2014 Support on 11/03/2014 Support on 10/31/2014 15.50 Support on 05/14/2020 Resistance on 05/12/2020 Resistance on 05/11/2020 Resistance on 04/30/2020 Resistance on 04/16/2020 Resistance on 04/13/2020 Resistance on 04/09/2020 Support on 03/12/2020 Support on 07/17/2019 Resistance on 06/25/2019 Resistance on 06/21/2019 Resistance on 06/20/2019 Resistance on 03/22/2019 Resistance on 03/21/2019 Resistance on 03/20/2019 Resistance on 03/13/2019 Support on 02/14/2019 Support on 01/16/2019 Support on 01/08/2019 Support on 01/03/2019 Resistance on 12/31/2018 Resistance on 08/09/2018 Resistance on 08/07/2018 Resistance on 08/06/2018 Resistance on 08/03/2018 Resistance on 08/01/2018 Resistance on 07/30/2018 Resistance on 07/27/2018 Support on 07/18/2018 Support on 07/11/2017 Support on 07/10/2017 Support on 07/07/2017 13.60 Support on 12/14/2015 12.05 Support on 03/17/2020 Support on 03/16/2020 11.25 Support on 03/16/2020 9.40 8.45 7.65 7.00 6.20 5.45 4.40 Click on the level to view price action history.

Symbol	Released	Current	Forecast
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
Silver (XAGUSD)	Sat, 23 Mar 2024