ForecastCity
Long

SILVER Technical Analysis Update

FOREXCOM:XAGUSD   Silver / U.S. Dollar
Midterm forecast:
. 18.95 is a major support, while this level is not broken, the Midterm wave will be uptrend.
. We will close our open trades, if the Midterm level 18.95 is broken.

Technical analysis:
. While the RSI uptrend #1 is not broken, bullish wave in price would continue.
. A trough is formed in daily chart at 17.35 on 06/24/2020, so more gains to resistance(s) 22.15, 23.05, 25.10 and more heights 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 83.

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Comments

Liked!
+2 Reply
ForecastCity Pro_Trader_007
@Pro_Trader_007, Thank you for your comment.
+1 Reply
Thanks, I will focus on this one too.
+2 Reply
ForecastCity Mehmetozdemi
@Mehmetozdemi, Thanks for your comment. We wish you good luck with all of your trades.
+1 Reply
nice chart and Analysis
+2 Reply
ForecastCity Shiva_forex
@Shiva_forex, Thank you for your comment. It is appreciated. 🍀
+1 Reply
The chart is excellent. Good choice. 👍 I enjoyed your technical analysis. 💙
+1 Reply
@fxniki, Thanks. We're glad you enjoyed it. 💎🙏💎
Reply
I agree, the rising volume is supporting this.
+1 Reply
ForecastCity sara-kian-fx
@sara-kian-fx, Thanks for sharing your point of view about it. 💎🙏💎
Reply
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