Silver Major Price Levels and Trend Insights
Welcome to my latest Silver (XAG/USD) technical analysis using Gann grid lines! If you're new to Gann analysis, don’t worry—I'll break it down in simple terms.
What Is Gann Analysis?
Gann analysis is a method developed by legendary trader W.D. Gann. It combines geometry, time, and price to identify key levels in the market where price action is likely to react. In essence, Gann theory suggests that markets move in predictable cycles and that certain price levels are more significant than others.
How Does This Gann Chart Work?
In the chart you see above, I've applied Gann grid lines, which create a web of horizontal, vertical, and diagonal lines across the chart. These lines represent price-time relationships and help identify critical levels where Silver’s price might find support or resistance.
Each horizontal line corresponds to specific price levels (in US dollars), while the diagonal lines help capture the trend and potential pivot points.
Key Price Levels
Here’s a breakdown of the most significant levels that you can see marked on the chart:
Resistance Levels:
427.5° = $33.49 (Strong overhead resistance).
405° = $32.05.
382.5° = $30.66.
360° = $29.29.
Support Levels:
337.5° = $27.95 (Current level, a key area to watch).
315° = $26.64.
292.5° = $25.37.
270° = $24.13 (Major support zone).
The numbers next to these levels represent angles or "degrees" in Gann theory, which are important for measuring cycles of price and time.
What Do These Levels Mean for Silver?
Currently, Silver is trading around the 337.5° level ($27.95). This level could act as strong support, and we could see a potential bounce if buyers step in. However, if the price breaks below this, the next significant support level is at 315° ($26.64).
If Silver holds the 337.5° level: We might see a move back up towards $29.29 (360°), followed by $30.66 (382.5°) if the bullish momentum continues.
If Silver fails to hold 337.5°: The price could drop towards $26.64 (315°), which is another strong support zone.
Diagonal Trendlines and Time Cycles
The diagonal lines crossing the chart represent Gann angles, which help forecast turning points in the trend. For example, when price interacts with these lines, it often leads to shifts in direction or momentum. These angles can give clues as to when a price change might occur in relation to both price and time.
Conclusion
In summary, Silver is at a key inflection point. A bounce from current levels could take the price higher toward $29 and beyond, while a break below $27.95 might lead to further downside. Using Gann analysis helps traders understand not only key price levels but also the timing of potential moves, giving a more complete picture of market dynamics.
What Is Gann Analysis?
Gann analysis is a method developed by legendary trader W.D. Gann. It combines geometry, time, and price to identify key levels in the market where price action is likely to react. In essence, Gann theory suggests that markets move in predictable cycles and that certain price levels are more significant than others.
How Does This Gann Chart Work?
In the chart you see above, I've applied Gann grid lines, which create a web of horizontal, vertical, and diagonal lines across the chart. These lines represent price-time relationships and help identify critical levels where Silver’s price might find support or resistance.
Each horizontal line corresponds to specific price levels (in US dollars), while the diagonal lines help capture the trend and potential pivot points.
Key Price Levels
Here’s a breakdown of the most significant levels that you can see marked on the chart:
Resistance Levels:
427.5° = $33.49 (Strong overhead resistance).
405° = $32.05.
382.5° = $30.66.
360° = $29.29.
Support Levels:
337.5° = $27.95 (Current level, a key area to watch).
315° = $26.64.
292.5° = $25.37.
270° = $24.13 (Major support zone).
The numbers next to these levels represent angles or "degrees" in Gann theory, which are important for measuring cycles of price and time.
What Do These Levels Mean for Silver?
Currently, Silver is trading around the 337.5° level ($27.95). This level could act as strong support, and we could see a potential bounce if buyers step in. However, if the price breaks below this, the next significant support level is at 315° ($26.64).
If Silver holds the 337.5° level: We might see a move back up towards $29.29 (360°), followed by $30.66 (382.5°) if the bullish momentum continues.
If Silver fails to hold 337.5°: The price could drop towards $26.64 (315°), which is another strong support zone.
Diagonal Trendlines and Time Cycles
The diagonal lines crossing the chart represent Gann angles, which help forecast turning points in the trend. For example, when price interacts with these lines, it often leads to shifts in direction or momentum. These angles can give clues as to when a price change might occur in relation to both price and time.
Conclusion
In summary, Silver is at a key inflection point. A bounce from current levels could take the price higher toward $29 and beyond, while a break below $27.95 might lead to further downside. Using Gann analysis helps traders understand not only key price levels but also the timing of potential moves, giving a more complete picture of market dynamics.
Note
29.29
and 30.66 - 31 done
Reached Important Resistance.
Take care closing below the Blue Trend is Bearish again ;)
but this time 29.29 Turned into support
Note
Been a while, But u should check the chart every day.
Note
This Level is Crucial for Silver 30.657 Atm is working as Support
What u care about is the closes of the candles!
Wish u best of luck
Time is more important than price. When time is up price will reverse." – W. D.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.