ForecastCity

💡SILVER (XAGUSD) - Weekly Technical Analysis Update

Long
FOREXCOM:XAGUSD   Silver / U.S. Dollar


Midterm forecast:

25.75 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 25.75 is broken.

Technical analysis:

A trough is formed in daily chart at 23.75 on 03/31/2021, so more gains to resistance(s) 28.30, 29.85, 33.45 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 64.

Take Profits:


TP1 @ 25.75
TP2 @ 26.60
TP3 @ 28.30
TP4 @ 29.85
TP5 @ 33.45
TP6 @ 37.50
TP7 @ 44.20
TP8 @ 49.80




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Comments

Very nice chart.
+1 Reply
Good analysis .
+1 Reply
$50 by end of year
+1 Reply
Good job! I agree and that's quite possible idea.
+1 Reply
@Lizabet, Thanks for your feedback.
Reply
Good job
Reply
@navid97, Thanks for your comment.
Reply
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