While the price is above the support 14.80, beginning of uptrend is expected.
We make sure when the resistance at 16.20 breaks.
If the support at 14.80 is broken, the short-term forecast -beginning of uptrend- will be invalid.
While the RSI support #1 at 49 is not broken, the probability of price decrease would be too low.
Silver - Intraday - We look to Buy at 15.10 (stop at 15.00)
Prices have continued the bullish move higher and resulted in 3 consecutive positive days.
Levels close to the 50% pullback level of 14.92 found buyers.
Previous resistance level of 15.15 broken.
Little net movement overnight.
This is positive for...
Posted Mixed Daily results for the last 11 days.
The rally was sold and the dip bought resulting in mild net gains yesterday.
Price action has formed a bullish ending wedge formation.
The overnight rally has been sold into and there is scope for further bearish pressure going into this morning.
Bespoke support is located at 15.04.
. There is a possibility of temporary retracement to suggested support line (14.60). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. XAGUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
XAGUSD reversed off our first resistance at 14.66 (61.8% Fibonacci extension,78.6% Fibonacci retracement, horizontal pullback resistance) where it could potentially drop to its support at 14.36(horizontal swing low support, 61.8% Fibonacci extension, 78.6% Fibonacci retracement).
Trading CFDs on margin carries high risk.
Losses can exceed the initial...
Nobody or very few people have been looking at Silver. Why? Everybody is distracted by Bitcoin and GBP pairs at the moment.
In the screencast I show that Silver is ripe for a controlled loss. Oops.. nobody wants to hear about losses - right?
I'm stalking this one carefully - having been distracted and missed Palladium.
Silver is pretty cheap at the moment....
Last week was a large range week, in which the market broke below triangle pattern support, and quickly reversed, finishing positive. This is normal. A false break will typically occur in a triangle reaching its apex. It is also possible to interpret this as an Inverse head and shoulders, with a sloping neckline.
Either way, the measured move target for a long...