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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.

DateNovember 21, 2020 - 14:09
Currentrange bound
Forecastresumption of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 22.15, resumption of uptrend is expected.
  • We make sure when the resistance at 26.00 breaks.
  • If the support at 22.15 is broken, the short-term forecast -resumption 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.
  • The RSI resistance #1 at 56 is broken, so the probability of resumption of uptrend is increased.
  • A peak is formed in daily chart at 25.99 on 11/06/2020, so more losses to support(s) 23.05 and minimum to Major Support (22.15) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 48.

Supports and Resistances:

  1. 18.35
  2. 15.85
  3. 13.60
  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) Sat, 12 Jun 2021
Silver (XAGUSD) free Sat, 5 Jun 2021
Silver (XAGUSD) Sat, 29 May 2021
Silver (XAGUSD) Sat, 22 May 2021
Silver (XAGUSD) free Sat, 15 May 2021