{"id":29552,"date":"2023-06-08T08:46:53","date_gmt":"2023-06-08T08:46:53","guid":{"rendered":"https:\/\/fxglobe.wpenginepowered.com\/?p=29552"},"modified":"2023-06-22T18:44:51","modified_gmt":"2023-06-22T18:44:51","slug":"is-silver-ready-for-a-turn","status":"publish","type":"post","link":"https:\/\/www.fxglobe.com\/vi\/is-silver-ready-for-a-turn\/","title":{"rendered":"Is Silver Ready for a Turn? Analyzing the Market"},"content":{"rendered":"\n

Good morning Traders!<\/p>\n\n\n\n

XAGUSD<\/h4>\n\n\n\n

Silver<\/a> is in an uptrend on the Weekly and on the Monthly timeframes<\/strong>. After a break above the 2450 area (which also confirmed a new uptrend on the Monthly chart), the market has printed a new Higher High and then started to pullback.<\/p>\n\n\n\n

\n
\"silver\"
XAGUSD W<\/figcaption><\/figure>\n\n\n\n
\"silver\"
XAGUSD M<\/figcaption><\/figure>\n<\/figure>\n\n\n\n

This pullback brought the Monthly chart back into it\u2019s Moving Averages<\/a>, and the last couple of Weekly candles, showed that some buyers have returned to this market.<\/p>\n\n\n\n

Looking at the Daily chart, and we can see that the Daily has been printing Higher Lows and somewhat Equal Highs around the level of 2400. And I am looking for a further compression of price underneath this area to allow for a potential tighter stop loss. However, if the market will break this level without further compression, then I will be looking for a potential retracement setup<\/strong>.<\/p>\n\n\n\n

\"silver\"<\/figure>\n\n\n\n

One point to note is the area above at around 2450, which could act as strong Resistance<\/a> for price.<\/p>\n\n\n\n

Happy Trading!<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning Traders! XAGUSD Silver is in an uptrend on the Weekly and on the Monthly timeframes. After a break above the 2450 area (which also confirmed a new uptrend on the Monthly chart), the market has printed a new Higher High and then started to pullback. This pullback brought the Monthly chart back into […]<\/p>\n","protected":false},"author":15,"featured_media":29555,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"none","_seopress_titles_title":"Silver Market: Ready for a Turn? | FXGlobe\ud83c\udfc6","_seopress_titles_desc":"Explore the silver market and assess if it is ready for a turn. Gain insights and make informed trading decisions with our analysis for traders.","_seopress_robots_index":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-29552","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-updates"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.fxglobe.com\/vi\/wp-json\/wp\/v2\/posts\/29552","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fxglobe.com\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fxglobe.com\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/vi\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/vi\/wp-json\/wp\/v2\/comments?post=29552"}],"version-history":[{"count":0,"href":"https:\/\/www.fxglobe.com\/vi\/wp-json\/wp\/v2\/posts\/29552\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/vi\/wp-json\/wp\/v2\/media\/29555"}],"wp:attachment":[{"href":"https:\/\/www.fxglobe.com\/vi\/wp-json\/wp\/v2\/media?parent=29552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fxglobe.com\/vi\/wp-json\/wp\/v2\/categories?post=29552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fxglobe.com\/vi\/wp-json\/wp\/v2\/tags?post=29552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}