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Weekly forecast Silver technical chart
Symbol XAGUSD

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Trade Setup

#SILVER
Total Profit: 1235 point
Closed trade(s): 1183 point Profit
Open trade(s): 52 point Profit

Trade Setup:
We opened 8 BUY trade(s) @ 24.93 based on 'Hammer' entry method at 2021.01.18.

Closed Profit:
TP1 @ 26.00 touched at 2021.01.21 with 107 point Profit.
TP2 @ 27.40 touched at 2021.01.29 with 247 point Profit.
TP3 @ 28.30 touched at 2021.02.01 with 337 point Profit.
TP4 @ 29.85 touched at 2021.02.01 with 492 point Profit.
107 + 247 + 337 + 492 = 1183 point

Open Profit:
Profit for one trade is 25.06(current price) - 24.93(open price) = 13 point
4 trade(s) still open, therefore total profit for open trade(s) is 13 x 4 = 52 point

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateMarch 27, 2021 - 20:26
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 21.900, resumption of uptrend is expected.
  • We make sure when the resistance at 29.850 breaks.
  • If the support at 21.900 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 28.30 on 02/23/2021, so more losses to support(s) 24.70, 24.00, 22.75 and minimum to Major Support (21.90) 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 39.

Take Profits:

  1. 26.00
  2. 27.40
  3. 28.30
  4. 29.85
  5. 31.25
  6. 32.45
  7. 33.45
Click on the level to view price action history.

Symbol Released Current Forecast
Silver (XAGUSD) Sat, 23 Mar 2024
Silver (XAGUSD) free Sat, 16 Mar 2024
Silver (XAGUSD) free Sat, 9 Mar 2024
Silver (XAGUSD) Tue, 5 Mar 2024
Silver (XAGUSD) free Sat, 2 Mar 2024