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Weekly forecast Silver technical chart
Symbol XAGUSD
Trade Setup

#XAGUSD
Total Profit: 1164 point
Closed trade(s): 204 point Profit
Open trade(s): 960 point Profit

Trade Setup:
We opened 14 BUY trades @ 19.082 based on 'Valley' entry method at 2022-07-27.

Closed Profit:
TP1 @ 19.750 touched at 2022-07-28 with 67 point Profit.
TP2 @ 20.450 touched at 2022-08-01 with 137 point Profit.
67 + 137 = 204 point

Open Profit:
Profit for one BUY trade is 19.883(current price) - 19.082(open price) = 80 point
12 trade(s) still open, therefore total profit for open trade(s) is 80 x 12 = 960 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.

DateAugust 6, 2022 - 06:26
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 18.100, beginning of uptrend is expected.
  • We make sure when the resistance at 20.450 breaks.
  • If the support at 18.100 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 20.444 on 2022-05-13 and the trough at 18.135 on 2022-07-14, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A peak is formed in daily chart at 20.500 on 08/02/2022, so more losses to support(s) 19.744, 18.960, 18.410 and minimum to Major Support (18.100) 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 52.

Take Profits:

  1. 19.744
  2. 20.450
  3. 21.436
  4. 22.995
  5. 24.000
  6. 26.187
  7. 28.304
  8. 29.850
  9. 33.450
  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