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Weekly forecast Silver technical chart
Symbol XAGUSD

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (22.400 to 22.092). 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 (22.400)
  • Ending of entry zone (22.092)

DateDecember 2, 2023 - 08:20
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • While the price is above the support 22.092, continuation of uptrend is expected.
  • We make sure when the resistance at 26.000 breaks.
  • If the support at 22.092 is broken, the short-term forecast -continuation of uptrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
  • A trough is formed in daily chart at 23.230 on 11/20/2023, so more gains maximum to Major Resistance (26.000) 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 75.

Take Profits:

  1. 23.650
  2. 24.148
  3. 25.150
  4. 26.000
  5. 26.940
  6. 28.304
  7. 29.850
  8. 37.500
  9. 44.200
  10. 49.800
  11. 60.000
Click on the level to view price action history.

Symbol Released Current Forecast
Silver (XAGUSD) Sat, 17 Feb 2024
Silver (XAGUSD) Sat, 10 Feb 2024
Silver (XAGUSD) Sat, 3 Feb 2024
Silver (XAGUSD) Sat, 27 Jan 2024
Silver (XAGUSD) Wed, 24 Jan 2024