Silver Analysis

[David-Trader]

Silver Daily Technical Levels - 28.01.2015

Daily
High	18.213
Low	17.490
Close	18.051
R3	19.069
R2	18.641
R1	18.346
Pivot	17.918
S1	17.623
S2	17.195
S3	16.900

[David-Trader]

Silver Daily Technical Levels - 29.01.2015

Daily
High	18.164
Low	17.927
Close	17.975
R3	18.354
R2	18.259
R1	18.117
Pivot	18.022
S1	17.880
S2	17.785
S3	17.643

[David-Trader]

Silver Daily Technical Levels - 30.01.2015

Daily
High	18.046
Low	16.739
Close	16.930
R3	19.044
R2	18.545
R1	17.737
Pivot	17.238
S1	16.430
S2	15.931
S3	15.123

[HFblogNews]

Date : 17th February 2015


SILVER FOLLOWS GOLD AS IT MOVES CLOSE TO KEY LEVELS.

The price of silver has been trending lower and has now after reaching the low of 14.15 reacted strongly higher over the last three months. This rally was stopped by a resistance at 18.62 and price has since moved lower to 16.55 where it created a weekly pivot. All in all the price is trending lower in a wide trend channel and is now close to a midrange between the latest weekly pivot high of 18.50 and 14.15 low. However, if the Gold finds support from the potential bottoming area (see my previous analysis on Gold), then it is safe to assume that highly correlated Silver is also a long term buy. Silver is now close to a similar region as Gold, where price is trading just above levels that used to resist price moves higher. This suggests that the downside relative to weekly price swings is getting limited.





Silver, Daily:


Silver has now broken a recent uptrend and created a lower high at the trend line. It is now moving sideways between the trendline and a support at 16.55. The daily pivot high from February 3rd limited the upside and has turned price lower today. The price of Silver is currently close to the daily range low and at a level that coincides with the 38.2% Fibonacci level. The 50% level is in the region of the lower Bollinger bands. Should the current levels break, the next potential support levels are in the region of 15.50 to 15.80 (support level and the 61.8% Fibonacci level).







Silver, 240 min:


In the 4h time frame the price is in a sideways range and has moved close to the lower end of it. The Stochastics are oversold and price is getting close to the Bollinger bands.


Conclusion:


As we have a strong weekly resistance area above and a weekly pivot below it is likely that the price will remain range bound between 15.50 and 18.60 over the coming weeks. These levels are approximations as support and resistance levels are never exact but rather areas around the resistance levels. The lower high and low in the daily chart suggest that price might correct lower from here. Should this happen the 61.8% Fibonacci level at 15.83 and the daily support at 15.53 would be potential downside targets. The latter coincides with the weekly 1.5 standard deviation Bollinger band and is therefore likely to be a level with added significance. The price of Silver has a high correlation with the price of Gold and should my long term Gold analysis prove correct (expecting Gold to find support from the potential bottoming formation) then Silver should also be a long term buy at levels relative close to the current prices. It is worth keeping an eye on both and see how they react in weekly, daily and 4h time frames. You can access my latest Gold analysis here.


Janne Muta
Chief Market Analyst



Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[PipSafe]

Technical analysis of Silver dated 26.02.2015

Silver was in a descending trend from the top price of 18.45 that could record the bottom price of 16.07. Right now this bottom price is fixed by the next ascending candles and is the next nearest supportive level. If this supportive level breaks , the price will have the potential of reaching to the important supportive level of 16.00.

As it is obvious in the picture below, there is a harmonic Gartley pattern between the bottom price of 15.52 and the top price of 18.45 that there is a potential for changing price direction from D point of this pattern.Stoch indicator confirms the ascending trend in this time frame and warns its possibility.Currently the first sign for Sellers is breaking of the D point of harmonic pattern in the price chart.

[GoldTrader]

Silver rose nearly 3 percent to the highest level in more than five weeks before coming off its highs. Silver prices outperformed gold, rising 2.7 percent in early trade, but pared gains to be up 0.5 percent at $16.93 an ounce.

[HFblogNews]

Date : 21st May 2015.(Second Analysis)


SILVER CLOSE COMPLETION OF A BOTTOMING PROCESS.





Silver, Weekly


Silver has now broken out of the bear channel. The breakout was preceded by a consolidation that started in December 2014 and lead to market creating higher lows at the weekly Bollinger bands. Currently Silver is trading relatively close to the upper Bollinger bands and has reacted lower from them and 50 week SMA. The 38.2% Fibonacci level that coincides roughly with weekly closing high from March has supported price this week. Support levels: 16.97, 16.36 and 15.55. Resistance levels: 17.77 and 18.50.





Silver, Daily


The move lower from the 17.77 resistance was a strong one. This one day move eroded more than three day’s gains. This suggests that there could be more downside volatility in store. The area from 16.37 to 16.60 looks interesting as a support level and a 50% Fibonacci level coincide with a sideways consolidation and an apex of a triangle formation. This area also coincides with the descending trendline that is now likely to provide support after resisting price moves higher earlier. Support levels: 16.88, 16.60 to 16.37 and 15.85. Resistance levels: 17.48 and 17.77.





Silver, 240 min


Lately the price of Silver has been finding support at 50 period SMA and the region of 17.00 dollars but the higher time frame picture hints the downside is not yet over and the best buy levels should therefore be at lower levels. The 16.60 level used to resist moves higher and Silver should therefore attract buyers if price moves to the level. At the time of writing Stochastics indicator is rolling over and suggests the downside momentum is resuming.


Conclusion The long term picture is positive with Silver now trading above the descending trend channel. This market has consolidated, created higher weekly lows and now broken above the down trendline. Such action indicates that the bottoming formation is near its completion. Short term price is still relatively close to the upper end of the range and weekly Bollinger bands. This suggests that the best low risk buy opportunities are lower. I look for buy signals in the region of 16.37 to 16.60 where several technical factors come together. My targets for short term trades from the above mention region are 17.00 (T1), 17.48 (T2) and 18.00 (T3).


Janne Muta
Chief Market Analyst
HotForex


Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.

[GoldTrader]

Silver Technical Levels - 06.02.2017
XAG/USD is currently trading around $17.57 marks.
Technically, XAGUSD next immediate support at $17.48, $17.32 and $17.06 levels.
Upside resistance above at $17.72, $17.99 and $18.26 levels.
Trend overall looking slightly bullish at the moment.