'Everybody' - well nearly everybody - has forgotten about Silver. Warren Buffet hasn't. Look, why are the big boys always ahead of the rest of the markets? Think!
In the screencast, I show how Silver is apparently itching for a breakout - in a similar way to Gold. If Gold pops above 1400 and stays above, expect big moves on Silver.
There are only three kinds...
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.
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.
. 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.
I have placed my bias for silver to dropped to the profit level marked with the blue horizontal trend line. I have taken several factors into consideration on this trade such using a higher timeframe and more. RSI indicator is also shows us an extreme overbought on the 4 hour. I think this pair is pulling back a little to possible trend higher than the previous...
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...