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Buying Silver at trend of higher lows.Silver - Intraday - We look to Buy at 21.62 (stop at 21.37) Dips continue to attract buyers. Bespoke resistance is located at 22.69. Due to an Ending Wedge formation, we continue to treat extended gains with caution. The trend of higher lows is located at 21.53. Bespoke support is located at 21.62. Preferred trade is to buy on dips. Intraday signals are far from strong. Our profit targets will be 22.36 and 22.56 Resistance: 22.24 / 22.69 / 23.00 Support: 21.62 / 21.53 / 20.78 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:XAGUSDLong
by OANDA
RLinda ! GOLD-> Medium-term perspective. Long or short?Gold prices rose to a three-month high of $1785, supported by a weaker dollar amid hopes that the Fed will take a less aggressive approach to raising rates in the future. Gold has had a very strong rally from $1618 and should consolidate a bit in the short term now. However, the overall risk remains very high. (Chart 1. Price correlation between DXY, US Bonds, XAUUSD from the opening session on Monday until now) DXY has risen to 107.2 since Monday, the correction is over and the fall has continued to almost $106, renewing the local low The U.S. government bond is down 2.2% since Monday [Gold makes a new three-month high at 1785 and a correction is underway. The overall gain since Monday is almost 1.3%. The SPDR Gold Trust, the world's largest gold exchange-traded fund, reported that its holdings rose 0.03% to 910.41 tons Monday from 910.12 tons Friday. Speculators reduced net short positions by 30,659 contracts to 8,219 on COMEX gold in the week to Nov. 8 Global stock indexes fell Monday and U.S. bond yields rose as investors assessed comments from Federal Reserve officials trying to determine the central bank's path forward on raising rates. (Chart 2. Daily chart of gold. Visual indicator of the rise from the November low) Gold prices have risen more than $160 since falling to a low of 1,618 earlier this month. Data on the rise in the U.S. unemployment rate in October and signs of easing inflation have sparked optimism about a slowdown in Fed policy. Traders now rate the odds of a 50-basis-point rate hike higher than a 75-point hike at the U.S. central bank's December meeting. Although gold is considered a hedge against inflation, rising interest rates tend to make bullion less attractive because the metal does not pay interest. (Chart 3. Daily chart of gold with overlaid indicators. Technical Analysis) Gold Price Outlook: Gold prices are making gains amid declining real yields in the U.S. However, until gold prices break the downtrend from the highs of March and August, it is too early to talk about the medium-term outlook. Gold prices are bullish in the near term, according to the Market Sentiment Index. An unexpected decline in U.S. inflation in October helped gold prices reach their highest level since mid-August. Globally, gold is bumping up against downtrend resistance, I think it's worth pushing back from that Technical indicators: The weekly chart shows us the fact that the price is still in a downtrend but is testing resistance amid distributive growth, also last week the price is breaking through a strong trend line and essentially is currently sandwiched between the trend line from 2018 and the price channel resistance. I tend to think that price could go into consolidation or a technical pullback after the distribution and go down to the 1726 zone, but with force majeure and a breakdown of the channel resistance there is potential for a rise to 1878 The price is under the pressure of the daily MA-200 and also the moving average coincides with the nearest strong resistance of 1807.96, to which the price can react with a pullback. I think this resistance level is the nearest key target The daily MA-50 is still supporting the price, forming a curve indicating a bullish trend. The daily RSI is entering the oversold area and may indicate a bearish signal in the near term, which will trigger many active traders The daily MACD is in a bullish outlook, with both lines (MACD line and signal line) indicating a bullish trend, which coincides with the mood of the chart. Key targets: Long positions - resistance 1807.96 On a pullback: First target - support 1765 Second target - support 1726. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
32
💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast: While the price is above the support 17.520, beginning of uptrend is expected. We make sure when the resistance at 21.200 breaks. If the support at 17.520 is broken, the short-term forecast -beginning of uptrend- will be invalid. Technical analysis: While the RSI downtrend #1 is not broken, bearish wave in price would continue. A trough is formed in daily chart at 18.080 on 10/14/2022, so more gains maximum to Major Resistance (21.200) 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 64. Take Profits: 19.939 20.621 21.200 22.417 24.129 25.986 26.940 28.304 29.850 37.500 44.200 49.800 60.000 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
FOREXCOM:XAGUSD
by ForecastCity
💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast: While the price is above the support 17.520, beginning of uptrend is expected. We make sure when the resistance at 21.200 breaks. If the support at 17.520 is broken, the short-term forecast -beginning of uptrend- will be invalid. Technical analysis: While the RSI downtrend #1 is not broken, bearish wave in price would continue. A trough is formed in daily chart at 18.080 on 10/14/2022, so more gains maximum to Major Resistance (21.200) 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 64. Take Profits: 19.939 20.621 21.200 22.417 24.129 25.986 26.940 28.304 29.850 37.500 44.200 49.800 60.000 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
FOREXCOM:XAGUSD
by ForecastCity_World
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