SILVER_101 2024.11.07 09:01:35 Trading Signal BUY

그저께

FrankPro Signal for SILVER_101

Type: Screen
Signal: BUY
TP: 31.609
SL: 30.913
Entry Price: 31.087

Analysis for SILVER

Forecast Overall(Short-Term, Long-Term): ST=Strong Down LT=Strong Down

Forecast Methods(Short-Term, Long-Term):
[Method0] ST=Down LT=Down
[Method1] ST=Down LT=Down
[Method2] ST=Down LT=Down


Analysis Method(0)

Based on the provided analysis, here is my assessment of the expected price movement for XAG/USD (Silver) in both the short-term and long-term:

**Short-term (next few days to a week):**

* Expected price movement: Down
* Reasoning: The price has broken below key support levels, including the 50-day SMA, and is currently under pressure. The technical outlook suggests a potential bullish correction to test the resistance area near $32.05, but this is likely to be followed by a downward rebound. Additionally, market indicators such as oscillators on the daily chart are gaining negative traction, indicating a path of least resistance to the downside.

**Long-term (next few weeks to months):**

* Expected price movement: Down
* Reasoning: The analysis suggests that silver prices are vulnerable and may continue to decline unless there is a strong breakout above key resistance levels. The technical outlook indicates a potential continuation of the fall, targeting levels below $28.45. Furthermore, the strengthening of the US Dollar following the presidential election is likely to maintain downward pressure on silver prices.

It's worth noting that a strong breakout above $33.65 could indicate continued growth to the $35.05 area, but this scenario seems less likely based on the current analysis.

Result: [Method0] ST=Down LT=Down


Analysis Method(1)

Based on the provided analysis, here are my conclusions on the expected price movement of XAG/USD (Silver) in both the short-term and long-term:

**Short-Term Analysis (next few days/week):**

* The price is expected to go down. The current price action suggests further potential declines, with support levels identified at $30.40-$30.35 (100-day SMA) and potentially lower to $30.00, $29.70, and the 200-day SMA near $28.55.
* However, there is an expectation of an attempt to develop a bullish correction in the price of silver, testing the resistance level near $32.05, followed by a potential downward rebound and continuation of the fall in price.

**Long-Term Analysis (next few weeks/months):**

* The price is expected to go down. The technical outlook indicates that any attempted recovery might be seen as a selling opportunity, with the path of least resistance currently to the downside.
* The strong US Dollar, bolstered by Trump's election victory, is a significant factor in the current downward pressure on silver prices, which is likely to continue in the long-term.
* However, if the price clears the $33.00 mark, it could target the October 31 high of $33.89 and potentially higher levels, indicating a potential reversal of the downtrend.

Overall, the analysis suggests that the price of silver is likely to continue its downward trend in both the short-term and long-term, with potential support levels at $30.40-$30.35 and $28.55. However, there is a possibility of a bullish correction in the short-term, and a potential reversal of the downtrend if the price clears the $33.00 mark.

Result: [Method1] ST=Down LT=Down


Analysis Method(2)

Based on the analysis, here are my predictions for the Silver price (XAG/USD):

**Short-term (next few days to a week):**

* The price is expected to go down. The breakdown below the 50-day SMA and the short-term ascending trend-channel has triggered bearish sentiment, and oscillators indicate negative traction. The price is likely to continue its fall towards the 100-day SMA support around $30.40-$30.35.
* Immediate support levels to watch are $30.23 (100-day SMA) and the psychological mark of $30.00. If these levels are broken, the price could drop further to $29.70.

**Long-term (next few weeks to a month):**

* The price is expected to stay the same or go down slightly. The strong US Dollar following Donald Trump's victory in the presidential election is likely to keep Silver prices in check. The price may eventually drop below the $30.00 psychological mark, heading towards the $29.70 zone and the 200-day SMA near $28.55.
* However, if the price manages to break above the 50-day SMA breakpoint near $31.40, it could lead to a short-covering move, but it may not sustain and could fizzle out near the $32.65 region.

Overall, the technical analysis suggests a bearish sentiment in the short-term, while the long-term outlook is neutral to slightly bearish due to the strong US Dollar.

Result: [Method2] ST=Down LT=Down