💡SILVER (XAGUSD) - Weekly Technical Analysis Update

٤ ديسمبر ٢٠٢٢

Midterm forecast:

20.621 is a major support, while this level is not broken, the Midterm wave will be uptrend.
We will close our open trades, if the Midterm level 20.621 is broken.

Technical analysis:

While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 20.860 on 11/28/2022, so more gains to resistance(s) 24.129, 25.986, 26.940 and more heights 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 71.

Take Profits:

19.939
20.621
21.200
22.417
24.129
25.986
26.940
28.304
29.850
37.500
44.200
49.800
60.000


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