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Weekly forecast Silver technical chart
Symbol XAGUSD
Trade Setup

#XAGUSD
Total Profit: 0 point
Closed trade(s): 0 point Profit
Open trade(s): 0 point Profit

Trade Setup:
We opened 16 BUY trades @ 19.568 based on 'Hammer' entry method at 2022-09-16.

Open Profit:
Profit for one BUY trade is 19.568(current price) - 19.568(open price) = 0 point
16 trade(s) still open, therefore total profit for open trade(s) is 0 x 16 = 0 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.
DateSeptember 17, 2022 - 13:56
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 17.550, beginning of uptrend is expected.
  • We make sure when the resistance at 21.965 breaks.
  • If the support at 17.550 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 18.135 on 2022-07-14 and the trough at 17.551 on 2022-09-01, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 17.550 on 09/01/2022, so more gains to resistance(s) 19.998, 20.860 and maximum to Major Resistance (21.965) 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 55.

Take Profits:

  1. 19.998
  2. 20.860
  3. 21.965
  4. 22.995
  5. 24.000
  6. 24.834
  7. 25.986
  8. 26.940
  9. 28.304
  10. 29.850
  11. 33.450
  12. 37.500
  13. 44.200
  14. 49.800
  15. 60.000
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
History
Daily-Trading-Opportunities on XAGUSD.