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Weekly forecast Silver technical chart
Symbol XAGUSD
Trade Setup

#XAGUSD
Total Profit: 2268 point
Closed trade(s): 204 point Profit
Open trade(s): 2064 point Profit

Trade Setup:
We opened 14 BUY trades @ 19.082 based on 'Valley' entry method at 2022-07-27.

Closed Profit:
TP1 @ 19.750 touched at 2022-07-28 with 67 point Profit.
TP2 @ 20.450 touched at 2022-08-01 with 137 point Profit.
67 + 137 = 204 point

Open Profit:
Profit for one BUY trade is 20.802(current price) - 19.082(open price) = 172 point
12 trade(s) still open, therefore total profit for open trade(s) is 172 x 12 = 2064 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.

DateAugust 12, 2022 - 23:33
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 18.100, beginning of uptrend is expected.
  • We make sure when the resistance at 21.436 breaks.
  • If the support at 18.100 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 20.444 on 2022-05-13 and the trough at 18.135 on 2022-07-14, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 19.540 on 08/05/2022, so more gains maximum to Major Resistance (21.436) 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 61.

Take Profits:

  1. 19.744
  2. 20.450
  3. 21.436
  4. 22.995
  5. 24.000
  6. 26.187
  7. 28.304
  8. 29.850
  9. 33.450
  10. 37.500
  11. 44.200
  12. 49.800
  13. 60.000
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