Silver Technical Analysis And Forecast

Technical Analysis -Silver Forecast

Hi Traders! Silver technical analysis and forecast post is here. We do our analysis on the MetaTrader4 platform (MT4). Some very interesting and useful tips and hacks about the MT4 platform could be found here. If you would like to learn more about the way we trade and the technical analysis we use then check out the Traders Academy Club Spoiler alert – free memberships are available!

Silver D1(Daily) Chart Analysis – Parabolic Sar, ADX Indicator

On the daily chart, we had a strong bullish rally and it looks like a correction is happening now. Currently, there are no signs of a trend change in play yet. In addition to this based on the Parabolic Sar the dots are above the price which we may consider as evidence of bearish pressure. Also, the ADX indicator gave a bearish signal at the cross of -DI (red line) versus +DI (green line), and the main signal line (silver line) reads value over 25, we may consider this as yet another evidence of bearish pressure. We may now move down to one timeframe lower and see if we can find evidences supporting this bearish view.

Silver Technical Analysis And Forecast



Silver H4(4 Hours) Chart Analysis – Bearish Hidden Divergence, Stochastic Oscillator

Looking at the H4 chart after the strong bearish move, it looks like a correction is happening currently. We have a potential bearish hidden divergence between the first high that has formed on 15th September 2020 and the second high that has formed on 29th September 2020 based on the histogram of the MACD indicator. Also looking at the Stochastic Oscillator we could see that it has reached its extreme. We may consider these as evidences of bearish pressure. So based on all this, my view is bearish here and once this pullback completes itself I expect the price to continue lower further.

Silver Technical Analysis And Forecast


Technical Analysis & Forecast Summary

Silver D1(Daily) Chart Analysis 

  • Parabolic Sar, ADX Indicator

Silver H4(4 Hours) Chart Analysis 

  • Bearish Hidden Divergence, Stochastic Oscillator


Trading Tips

It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this sell setup then you can use any setup and strategy that you have in your arsenal to look for bearish moves and join this sell trade.

Also, don’t forget to protect your sell trade using a stop loss and make sure to set a target and keep a proper risk/reward ratio.

You will also find a pretty extensive database of educational materials here in the blog – just use the search or check out the Forex Education section above.

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If you have any further questions, don’t hesitate to drop a comment below!


Happy Trading!

Yordan Kuzmanov
Chief Trader at the Traders Academy Club



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