💡SILVER (XAGUSD) - Weekly Technical Analysis Update

29 Ağu 2021

Midterm forecast:
While the price is above the support of 22.15, a resumption of an uptrend is expected.
We make sure when the resistance at 28.75 breaks.
If the support at 22.15 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

While the RSI resistance #1 at 48 is not broken, the probability of price increase would be too low.
A trough is formed in the daily chart at 22.87 on 08/20/2021, so more gains to resistance(s) 24.50, 25.75, 26.60, and maximum to Major Resistance (28.75) is expected.
Price is above WEMA21, if a price drops more, this line can act as dynamic support against more losses.
The relative strength index (RSI) is 47.

Take Profits:
TP1= @ 26.60
TP2= @ 28.30
TP3= @ 29.85
TP4= @ 33.45
TP5= @ 37.50
TP6= @ 44.20
TP7= @ 49.80
TP8= @ 60.00

❤️ If you find this helpful and want more FREE forecasts in TradingView

. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!

❤️ Your support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex / Crypto trader?

Now, It's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.

Trade well, ❤️
ForecastCity English Support Team ❤️