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Weekly forecast Silver technical chart
Symbol XAGUSD

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Trade Setup
#XAGUSD
Total Profit: -210 pip
Closed trade(s): 0 pip Profit
Open trade(s): -210 pip Profit

Trade Setup:
We opened 7 BUY trade(s) @ 15.06 based on 'Valley' entry method at 2019.04.26.

Open Profit:
Profit for one trade is 14.76(current price) - 15.06(open price) = -30 pip
7 trade(s) still open, therefore total profit for open trade(s) is -30 x 7 = -210 pip

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.
DateMay 11, 2019 - 21:18
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 14.350, beginning of uptrend is expected.
  • We make sure when the resistance at 15.600 breaks.
  • If the support at 14.350 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI bounced from the support #1 at 32 and it prevented price from more losses.
  • While the RSI resistance #2 at 48 is not broken, the probability of price increase would be too low.
  • A trough is formed in daily chart at 14.56 on 05/02/2019, so more gains to resistance(s) 14.80, 14.95, 15.15 and maximum to Major Resistance (15.60) 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 42.

Take Profits:

  1. 15.15
  2. 15.30
  3. 15.60
  4. 16.20
  5. 17.20
  6. 18.10
Click on the level to view price action history.
Symbol Released Current Forecast
Silver (XAGUSD) free Sun, 14 Apr 2024
Silver (XAGUSD) free Sat, 6 Apr 2024
Silver (XAGUSD) free Wed, 3 Apr 2024
Silver (XAGUSD) free Sat, 30 Mar 2024
Silver (XAGUSD) Sat, 23 Mar 2024
History
Daily-Trading-Opportunities on XAGUSD.