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XAG

XAGUSD#FOREX #XAGUSD Silver falsely broke through the corner (but made it possible to make good money on its breakdown) and returned to the zone of uncertainty. We are waiting again. Now the price is trading at the level of concentration of horizontal volumes - ROS. It is sandwiched between two important corners (red and red). Slight probabilities are in favor of a downside (red scenario) due to a sustained mid-term downtrend and a weekly RSI below 50-60. Also, such false breakouts, as highlighted in blue, indicate the weakness of bullish sentiment, and the need to collect liquidity before moving further along the trend. In favor of growth, we can note the formed parabola (yellow), and the fact that the key global red corner is still held. If the price manages to consolidate above the red angle, then it will continue its upward movement along the parabola to the Gann angles at ~23.2 and 24.6 By and large, like many other financial instruments, silver is in an area of ​​uncertainty when volatility is compressed. This means one thing, that we will probably soon get a strong movement in one of the directions. Then it will be possible to stand in the desired position with a larger volume. In the meantime, you have to significantly reduce the volume and trade small movements. *This post is not an investment recommendation or a trading recommendation.
OANDA:XAGUSD
by airstels
xagusdSilver (XAG/USD) has been trading in a downward sloping channel since August 2020. On July 5th, 2022, the precious metal broke below the bottom trendline of the channel. Silver attempted to rebound a few times back into the channel, however it could only make it as far as the 38.2% Fibonacci retracement level from the March 8th highs to the September 1st lows, near 21.24. Since reaching that near-term high on October 4th, Silver has moved lower on 7 of the last 8 trading days. The 1 day it did close higher, it only closed higher by 0.01! If Silver continues to move lower, the firs t support is at the September 1st lows of 17.54. Below there, horizontal support crosses from the June 15th , 2020 lows at 16.95, then the April 2020 highs at 15.85. However, if Silver can manage to move higher, the first resistance is at the lows of October 5th at 20.02, then the highs of October 4th at 21.24. Above there, resistance crosses at the 200 Day Moving Average at 21.83.
FOREXCOM:XAGUSDShort
by DrGhanizadeh
Forecast XAGUSD⚙️In the forecast a month ago, a medium-term loy was determined. However, now the price has not sent to a rapid inertial growth towards the designated targets, but is stuck in a triangle of corners. ⚙️The price has been testing EMA-50 from below three times in the last 2 months, and so far cannot break through it. The factors described above force us to consider the second downward scenario to levels ~12.4 Obviously, soon we will see a way out of the triangle marked with red lines. This will make it more likely to make the right choice in short / long.
OANDA:XAGUSD
by airstels