Silver Price Chart: XAG Rally Rips to Resistance at Fresh Yearly High

• Silver Prices testing critical resistance pivot– Rally vulnerable near-term sub-16.66

  白银价格测试关键阻力位 - 近期弱势小组16.66

Silver prices have rallied nearly 15% from the yearly lows registered in May with last week marking the largest weekly range since July 2017 and the largest single-week advance since June of 2016. Silver is now eyeing a critical resistance zone just above the yearly opening-range highs. These are the updated targets and invalidation levels that matter on the XAG/USD weekly price chart. Review my latestWeekly Strategy Webinar for an in-depth breakdown of this silver price setup and more.

白银价格从5月份的年度低点反弹近15％上周是自2017年7月以来最大的每周区间，也是自2016年6月以来的最大单周涨幅。白银目前正在关注一个临界阻力区域，刚好高于年度开盘高点。这些是XAG / USD每周价格图表中重要的更新目标和失效级别。查看我的最新周刊策略网络研讨会，深入了解此银价设置等。

Silver Price Chart – XAG/USD Weekly

银价图表 - 每周XAG /美元

Notes: Silver prices broke above confluence resistance around the yearly open last week at 15.47 – a subsequent rally of more than 8% takes price into the first major resistance target at 16.61/66 – a region defined by the 100% of the November advance and the 38.2% retracement of the 2016 decline. Price registered a high at 16.59 last week and wile the broader focus is higher, the immediate advance may be vulnerable below this level with pitchfork resistance further highlighting this threshold over the next few weeks. Note that the yearly opening-range high comes in at 16.21 – price has yet to clear this on a close basis.

注意：白银价格突破年度开盘前的汇合阻力位本周在15.47 - 随后的反弹超过8％将价格推向第一个主要阻力目标16.61 / 66--这个区域由11月份的100％上涨和2016年下跌的38.2％回撤定义。价格在上周触及16.59的高点，并且更广泛的关注度更高，即时上涨可能在这个水平以下，并且干草叉阻力在未来几周进一步突显这个门槛。请注意，年度开盘价区间高位为16.21 - 价格尚未在收盘时明确表示。

Initial support rests back at 16.21 backed by the February high-day close at 15.88- area of interest for downside exhaustion IF reached. Broader bullish invalidation now raised to 15.47. A topside breach of this key resistance zone exposes subsequent topside objectives at the June swing highs at 17.32 backed by the 50% retracement at 17.51.

初步支持在2月高点收盘时支撑位于16.21，支撑位于15.88-的下行区域。更广泛的看涨失效现在升至15.47。这一关键阻力的上行突破e区域在6月摆动高点17.32处暴露后续上行目标，受到17.51的50％回撤支撑。

Bottom line: The silver price breakout is approaching the first major resistance hurdle at 16.61/66 – a breach / weekly close above is needed to keep the long-bias viable targeting 17 and beyond. From a trading standpoint, look to reduce long-exposure / raise protective stops on a stretch into key resistance. Ultimately, well favor fading weakness while above 15.88 targeting a topside breach to fresh yearly highs.

底线：白银价格突破逼近第一个主要阻力位16.61 / 66--需要突破/每周收盘以保持多头-bias可行目标17及以上。从交易的角度来看，寻求减少长时间曝光/提高保护性止损，进入关键阻力位。最终，在高于15.88的情况下，有利于消退弱势，将上行突破目标定为新的年度高点。

Silver Trader Sentiment (XAG/USD)

Silver Trader Sentiment（XAG / USD）

• A summary of IG Client Sentiment shows traders are net-long Spot Silver - the ratio stands at a staggering +8.71 (89.7% of traders are long) – bearish reading

  IG客户情绪摘要显示，交易者是净多头现货白银 - 该比率达到惊人的+8.71（交易者持有的比例为89.7％） - 看跌看跌

• Long positions are 2.5% higher than yesterday and 8.5% lower from last week

  多头头寸比昨天增加2.5％，比上周减少8.5％

• Short positions are 8.3% lower than yesterday and 106.8% higher from last week

  空头头寸比昨天低8.3％，比上周高出106.8％

• We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Spot Silver prices may continue to fall. Traders are further net-long than yesterday & last week, and the combination of current positioning and recent changes gives us a stronger Silver (XAG/USD)-bearish contrarian trading bias from a sentiment standpoint.

  我们通常采取逆向观点来看待人群情绪，事实上交易者是网络长苏现货白银价格可能继续下跌。交易商比昨天和上周进一步净多头，目前的定位和最近的变化相结合，使我们从情绪的角度来看更强烈的白银（XAG / USD） - 逆势交易偏见。