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Weekly forecast Silver technical chart
Symbol XAGUSD
Trade Setup

#XAGUSD
Total Profit: 1718 point
Closed trade(s): 67 point Profit
Open trade(s): 1651 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.

Open Profit:
Profit for one BUY trade is 20.346(current price) - 19.082(open price) = 127 point
13 trade(s) still open, therefore total profit for open trade(s) is 127 x 13 = 1651 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.
DateJuly 30, 2022 - 11:23
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 trough is formed in daily chart at 18.135 on 07/14/2022, so more gains maximum to Major Resistance (20.450) 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. 19.750
  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) 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.