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Weekly forecast Silver technical chart
Symbol XAGUSD
Trade Setup

#XAGUSD
Total Profit: 1411 point
Closed trade(s): 835 point Profit
Open trade(s): 576 point Profit

Trade Setup:
We opened 10 BUY trades @ 28.653 based on 'Valley' entry method at 2024-09-11.

Closed Profit:
TP1 @ 28.886 touched at 2024-09-12 with 24 point Profit.
TP2 @ 30.082 touched at 2024-09-13 with 143 point Profit.
TP3 @ 31.477 touched at 2024-09-24 with 283 point Profit.
TP4 @ 32.500 touched at 2024-09-26 with 385 point Profit.
24 + 143 + 283 + 385 = 835 point

Open Profit:
Profit for one BUY trade is 29.61(current price) - 28.653(open price) = 96 point
6 trade(s) still open, therefore total profit for open trade(s) is 96 x 6 = 576 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.
DateJanuary 3, 2025 - 22:06
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 26.000, resumption of uptrend is expected.
  • We make sure when the resistance at 35.000 breaks.
  • If the support at 26.000 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 34.845 on 10/22/2024, so more losses to support(s) 28.886, 27.665, 27.156 and minimum to Major Support (26.000) 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 44.

Take Profits:

  1. 28.886
  2. 29.798
  3. 31.477
  4. 32.500
  5. 35.000
  6. 37.450
  7. 44.200
  8. 49.800
  9. 60.000
Click on the level to view price action history.
Symbol Released Current Forecast
Silver (XAGUSD) free Sat, 11 Jan 2025
Silver (XAGUSD) Fri, 3 Jan 2025
Silver (XAGUSD) free Sat, 28 Dec 2024
Silver (XAGUSD) Fri, 20 Dec 2024
Silver (XAGUSD) Sat, 14 Dec 2024
History
Daily-Trading-Opportunities on XAGUSD.