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Weekly forecast Silver technical chart
Symbol XAGUSD
Trade Setup

#XAGUSD
Total Profit: 2505 point
Closed trade(s): 338 point Profit
Open trade(s): 2167 point Profit

Trade Setup:
We opened 14 BUY trades @ 19.457 based on 'Hammer' entry method at 2022-11-03.

Closed Profit:
TP1 @ 19.939 touched at 2022-11-04 with 48 point Profit.
TP2 @ 20.621 touched at 2022-11-04 with 116 point Profit.
TP3 @ 21.200 touched at 2022-11-08 with 174 point Profit.
48 + 116 + 174 = 338 point

Open Profit:
Profit for one BUY trade is 21.425(current price) - 19.457(open price) = 197 point
11 trade(s) still open, therefore total profit for open trade(s) is 197 x 11 = 2167 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.

DateNovember 26, 2022 - 07:42
Currentuptrend
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 17.520, resumption of uptrend is expected.
  • We make sure when the resistance at 22.417 breaks.
  • If the support at 17.520 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 20.575 on 11/21/2022, so more gains maximum to Major Resistance (22.417) 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 60.

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, 28 Jan 2023
Silver (XAGUSD) Sat, 21 Jan 2023
Silver (XAGUSD) Sat, 14 Jan 2023
Silver (XAGUSD) free Sat, 7 Jan 2023
Silver (XAGUSD) free Sat, 31 Dec 2022