Market Overview
Silver Price Forecast for the coming week may continue under bullish bias on 1d time frame, as the Silver Price Forecast for the coming week amy remain above the prior support at 69.62429 on 1d time frame. Meanwhile the Silver Price Forecast hasn’t setup any fresh support on 1d time frame. Therefore the pending support would remain active on 1d time frame. In addition, the h4 time frame continues under the bullish structure and confirmed the fresh support at 72.78050 on h4 time frame. On the other hand, the h1 time frame bullish bias remains aligned with the previously established support zone at 77.60926 on h1 time frame.
Weekly Chart
Key Weekly Levels
Major Resistance
H4 Resistance
90.98882 – 91.98128
H1 Resistance
84.27568 – 84.47885
M15 Resistance
85.33364 – 85.45880
Major Support
1D Support
50.01495 – 48.67948
H4 Support
72.78050 – 72.42670
H1 Support
77.60926 – 77.50376
M15 Support
79.62541 – 79.33443
Market Structure Outlook
However the could hold the upside continuation on 1d time frame. As a result price operates above the prior support at 69.62429 on 1d. Meanwhile, a define close above 83.06111 on 1d, as the price may strengthened the bullish bias and establish the fresh support zone at 71.32658 – 70.91205 on 1d. In addition, a sustained close above 82.13872 on h4. However the price may could stay aligned with the bullish structure and form the fresh support at 78.66066 – 78.34179 on h4. On the other hand, a close above 82.13872 on h1, as the price may remain favorable for the buyers and setup the frsh support at 78.53311 – 78.34179 on h1 time frame.
Weekly Trading Scenario
Although the price may remain under the bullish side on 1d time frame. Therefore the price hovering above the prior support zone at 69.62429 on 1d. Meanwhile acceptance below 69.62429 on 1d, as the price could reinforce the bearish structure and print the fresh resistance at 75.35700 – 76.13278 on 1d. On the other hand, breakdown below 72.22132 on h4. As a result price may shift the structure to the bearish side and establish the fresh resistance at 76.04929 – 76.97886 on h4. In addition, a decisive close below 77.50376 on h1. Therefore the price may signal the downside continuation and shape the fresh resistance at 78.06503 – 78.30383 on h1 time frame.
Bullish Scenario
A define close above 83.06111 on 1d time frame
Bearish Scenario
Acceptance below 69.62429 on 1d time frame
Key Takeways
Higher time frame bias: Bullish
Major Resistance: – 90.98882 – 91.98128
Major Support: – 50.01495 – 48.67948
Although this XAGUSD weekly forecast focuses on key resistance & support zones that traders should focus during the whole week. Therefore always wait for the confirmation’s before entering the trade and manage the risk properly.
Disclaimer
Although this analysis is for educational and informational purposes only. Therefore it does not constitute financial advice. However always manage your risk and trade responsibly.
Moreover check out my previous XAGUSD Weekly Forecast post
For daily XAGUSD chart analysis refer my XAGUSD Daily Analysis section