ForecastCity

SILVER (XAGUSD) - Weekly Technical Analysis Update

Long
FOREXCOM:XAGUSD   Silver / U.S. Dollar
Midterm forecast:
While the price is above the support 22.15, resumption of uptrend is expected.
We make sure when the resistance at 26.20 breaks.
If the support at 22.15 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:
The RSI resistance #1 at 56 is broken, so the probability of resumption of uptrend is increased.
A trough is formed in daily chart at 22.58 on 10/29/2020, so more gains maximum to Major Resistance (26.20) 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.

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Comments

Keep up the good work!
+4 Reply
ForecastCity Josef_anderson
@Josef_anderson, Sure. 👌🏻
+3 Reply
ForecastCity Josef_anderson
@Josef_anderson, We're glad you like it.
+3 Reply
Thanks for the posts keep them coming 😊
+4 Reply
ForecastCity Pro_Trader_007
@Pro_Trader_007, Sure.

We always do.
+3 Reply
I definitely agree with your idea. 26.20 is an important level.
+4 Reply
ForecastCity Pro_Trader_007
@Pro_Trader_007, Thanks for your kind comment.
+4 Reply
🍁 You always manage to create the most beautiful and detailed charts.🍁
+1 Reply
ForecastCity Kristalyn
@Kristalyn, Thanks for your kind comment.
Reply
Tnx
+1 Reply
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