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Weekly forecast Silver technical chart
Symbol XAGUSD
Trade Setup

#XAGUSD
Total Profit: 19.77 point
Closed trade(s): 1.57 point Profit
Open trade(s): 18.2 point Profit

Trade Setup:
We opened 14 BUY trades @ 19.45 based on the 'Hammer' entry method at 2022-11-03.

Closed Profit:
TP1 @ 19.94 touched at 2022-11-04 with 0.49 point Profit.
TP2 @ 20.62 touched at 2022-11-04 with 1.17 point Profit.
0.49 + 1.17 = 1.57

Open Profit:
Profit for one BUY trade is 20.85(current price) - 19.45(open price) = 1.4 point
13 trade(s) still open, therefore total profit for open trade(s) is 1.4 x 13 = 18.2 point

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (18.227 to 17.520). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (18.227)
  • Ending of entry zone (17.520)

DateNovember 5, 2022 - 00:18
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 17.520, beginning of uptrend is expected.
  • We make sure when the resistance at 21.200 breaks.
  • If the support at 17.520 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 18.080 on 10/14/2022, so more gains maximum to Major Resistance (21.200) 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 64.

Take Profits:

  1. 19.939
  2. 20.621
  3. 21.200
  4. 22.417
  5. 24.129
  6. 25.986
  7. 26.940
  8. 28.304
  9. 29.850
  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