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Weekly forecast Silver technical chart
Symbol XAGUSD
Trade Setup

#XAGUSD
Total Profit: -1136 point
Closed trade(s): 0 point Profit
Open trade(s): -1136 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 18.857(current price) - 19.568(open price) = -71 point
16 trade(s) still open, therefore total profit for open trade(s) is -71 x 16 = -1136 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 23, 2022 - 23:37
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 peak is formed in daily chart at 20.005 on 09/12/2022, so more losses to support(s) 18.775, 18.135 and minimum to Major Support (17.550) 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 46.

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) 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