Tag: Metals

Silver Forecast: Is it the last fall?

Karim El Bawab 2 Comments

XAG/USD 22nd, May 2015

Silver bounced to 17.77 (as I expected in this expectation) and it fell again to 16.93.

This is the area of relaxation for silver and it seems that we will stay for within this range for 2 days or so. Buying silver around 16 to 16.50 seems to be a chance so, take the chance and buy around this range and keep it for long term.

Selling silver these days is not safe decision so, I prefer to wait for a while before doing so.

The Silver (XAG/USD) has the following major resistance and support levels:

  • RESISTANCE: 19
  • SUPPORT: 15

Breaking these levels in any direction will take us higher or lower.

My Daily BUY/SELL advice (30 pips stop loss applied):

  • Buy: at 16.50 – Take profit 17.50 (100 pips profits)
  • Buy: at 16 – Take profit 17.50 (150 pips profits)

This review is valid during trading week: 25th-29th May, 2015

Silver Forecast: Downtrend suspended for a while?

Karim El Bawab

Silver 27th April, 2015

Silver bounced from 15.58 (higher than my previous expectation) to 16.40 in one shot.

The bullish momentum seems to be stronger now and it seems that we are ready to test this range (17.40-17.90). However, I can not confirm that this is the end of the downtrend. I am still waiting for cheaper silver to buy for long term.

Sell silver in any place around 17.80 and hold on till it hits 15 level again, I am expecting this to be slowly move as the previous one!

The Silver (XAG/USD) has the following major resistance and support levels:

  • RESISTANCE: 18.60
  • SUPPORT: 15

Breaking these levels in any direction will take us higher or lower.

My Daily BUY/SELL advice (30 pips stop loss applied):

  • Sell: at 17.80 – Take profit 17 (80 pips profits)
  • Sell: at 17.50 – Take profit 17 (50 pips profits)
  • Sell: at 17.20 – Take profit 16.50 (70 pips profits)

This review is valid during trading week: 27th-30th April, 2015

Silver Forecast

Silver Forecast: Limited downtrend on the way

Karim El Bawab

Silver 8th April, 2015

Silver, the Gold’s little brother had a long downtrend from (49.85 to 14.20) just like the gold from the second half of year 2011, lasted years: 2012, 2013. Year 2014 was a supportive year for the silver too with few dips to stay above the 14.20 level during the first quarter of 2015.

Currently, the bullish momentum is very weak and I can not see any real reason for the silver to go up. Metals tend to be cheaper in front of a strong dollar so, sell silver with confidence that it will test at least the 15 level since it is the closest support in this range. Notice that, I can see that even this support (around 15 level) is weak enough to be broken. We will need to wait until we reach this point before being able to say whether there will be a reversal or a continuity for the previous downtrend

Sell silver in any place around 16.80-16.50 and hold on till it hits 15 level again, I am expecting this to be slowly move

The Silver (XAG/USD) has the following major resistance and support levels:

  • RESISTANCE: 18.60
  • SUPPORT: 15

Breaking these levels in any direction will take us higher or lower.

My Daily BUY/SELL advice (30 pips stop loss applied):

  • Sell: at 16.75 – Take profit 16 (75 pips profits)
  • Sell: at 16 – Take profit 15.5 (50 pips profits)

This review is valid during trading week(s): 8th-14th April, 2015