ForecastCity

💡SILVER (XAGUSD) - Weekly Technical Analysis Update

FOREXCOM:XAGUSD   Silver / U.S. Dollar
Midterm forecast:
While the price is above the support 21.90, resumption of uptrend is expected.
We make sure when the resistance at 26.00 breaks.
If the support at 21.90 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:
The RSI downtrend #1 is broken, so the probability of resumption of uptrend is increased.
A trough is formed in daily chart at 23.55 on 12/11/2020, so more gains maximum to Major Resistance (26.00) 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 65.

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Comments

Beautiful chart! nice setup. Thanks for sharing
+2 Reply
ForecastCity yusufipek1989
@yusufipek1989, You're welcome! We appreciate your feedback.
Reply
excellent chart
+2 Reply
@Lizabet, Thanks!
+1 Reply
@Lizabet, We hope you enjoy it.
+1 Reply
Please update EURUSD intraday. 👏
+1 Reply
ForecastCity Pro_Trader_007
@Pro_Trader_007, It's updated on the website.
Reply
The chart is excellent. Good choice. 👌
+1 Reply
ForecastCity Josef_anderson
@Josef_anderson, We're glad you like it. 👍
Reply
Thanks for the analysis.
+1 Reply
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