ForecastCity
Long

SILVER Weekly Technical Analysis Update

FOREXCOM:XAGUSD   Silver / U.S. Dollar
Midterm forecast:
. While the price is above the support 16.50, resumption of uptrend is expected.
. We make sure when the resistance at 18.95 breaks.
. If the support at 16.50 is broken, the short-term forecast -resumption of uptrend- will be invalid.
. We will close our open trades, if the Midterm level 16.50 is broken.

Technical analysis:
. While the RSI support #1 at 45 is not broken, the probability of price decrease would be too low.
. A trough is formed in daily chart at 17.35 on 06/24/2020, so more gains maximum to Major Resistance (18.95) 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 67.
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Comments

Thanks... I will keep an eye on this...
+1 Reply
ForecastCity Mehmetozdemi
@Mehmetozdemi, We hope you enjoy it
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Nice idea .. worked like a charm
+1 Reply
ForecastCity Shiva_forex
@Shiva_forex, Thank you for your comment
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I totally agree with your general expectations, such as the direction and targets that have been set. 👍🥰
+1 Reply
@fxniki, Thank you for following us and your support and nice comments. 💙🙏💙
Reply
thank you
+1 Reply
ForecastCity Forecast_Crypto
@Forecast_Crypto, We appreciate your comment.
Reply
Superb analysis sir
+1 Reply
ForecastCity gafur9426
@gafur9426, Thank you 🍀 💙
+1 Reply
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