$50 Silver"Decade of zero returns" for the stock market = Shortening Bear Market for Commodities
Price target = $50
Fractal backbone + Room in technicals for such move.
Price target was established in June 2021.
Time frame pushed up in anticipation of 2023 bear.
AG
EXK will run as long as silver moves higher LONGEXK is a junior miner. With fixed expenses in its mining operations for the most part, margins
rise dramatically when silver is rising and the opposite is likewise applicable. This is the crux
of using junior miners as a means to profit from trending in precious metals. As a penny stock
EXK has hieghtened volatility as compared with Barrock Gold or the GLD ETF. there are other
junior miners. EXK has added 40% to its market cap in two weeks. Until the momentum of spot
silver fades, EXK will continue its momentum. I will add to my long position here and fortify
the call option position as well.
EXK ffalling wedge breakout after silver mining earnings LONGEXK is a silver mining company with operations in USA Canada and Mexcio. On the daily chart,
it has been in a falling wedge for more than six months. The earnings report was a 40% beat on
earnings and 2% on revenue. Price broke above the wedge one week earlier. The price action
has been supported by higher volumes. The Price Momentum Oscillator and Relative Trend
Index indicators provide further documentation of the bullish momentum. I will initiate
long trades of shares and call options here. I am targeting 3.5 for 40% upside. I will take
off 1/3 of the trade upon reaching 3.0 and convert the stop loss to a trailing 5%.
HL- a silver mining pennystock LONGHL shown on the reliable daiy chart while spot silver is uptrending. demonstrates multiple
bullish signs including a cross over the POC line of the volume profile and now the confluence
of a 200-50-20 triple convergence coindident with a cross of the long anchored mean VWAP
and a gaint ( "gib ass green") engulfing green price candle of 7% magnitude with volume above
the running mean. The Price Momentum Oscillator and Relative Trend Index lend further
support to a bullish bias here. I will take a long trade in HL of both shares and call options to
complement my positions in gold. Targets are 4.9, 5.4 and 6.8 yielding the potential of a very
profitable trade over in next six weeks before earnings and perhaps beyond that.
Is silver going to $26 per ounce? Maybe. In our preceding discussion on silver, we delved into the dynamics of supply and demand, highlighting the deficit in supply compared to demand throughout 2022. In addition to that, we talked about how this opportunity, coupled with some other factors, could present an interesting opportunity to go long silver. Since then, the price of silver rose from around $22.50 to more than $25 just a few days ago. Currently, one troy ounce of silver trades around $24.85. We continue to be bullish on silver and pay close attention to the area between $24.55 and $24.64. If silver manages to defend this area and ideally hold above it, it will be bullish. But if it fails and drops below its 20-day SMA near $23.90, it will prompt us to secure profits. At the moment, our price target of $26 stays in place.
Illustration 1.01
Illustration 1.01 displays the daily chart of XAGUSD. The yellow arrow indicates a bullish breakout from the downward-sloping channel.
Technical analysis gauge
Daily time frame = Bullish
Weekly time frame = Bullish
*The gauge does not necessarily indicate where the market will head. Instead, it reflects the constellation of RSI, MACD, Stochastic, DM+-, ADX, and moving averages.
Please feel free to express your ideas and thoughts in the comment section.
Majestic Trade First Majestic Silver - NYSE:AG
- Risk/Reward Ratio 12
- Positive Divergence
- Spring reversal from under ascending triangle
- Green circle is the convergence of 200 DSMA,
POC & break out from falling wedge. A break &
close above $7.10 may be confirmation
You could enter here and place your stop as outlined on the chart and be ok with 20% hit in the event of. Or you wait for the confirmation above the noted levels before entering and place a higher stop.
PUKA
$AG - Not gonna do wellYeah...
Again, this is another stock that's been added to the meme basket. Yes... a Silver Mining/Trading company was added to the Meme stock basket... it didn't make much sense until i saw they added this yesterday and that AG has earnings TOMORROW. The only reason to add things to the meme basket like this is obviously to make meme stocks go down with a helpful push from bad earnings.
It doesn't make sense that this stock would drop MORE from where it already is... it really doesn't, but seeing that they added it to the meme basket 1 day before earnings... yeah i'm now convinced AG will have bad earnings and Wallstreet/someone already knows. You don't add successful companies to the meme basket :)
TLDR: Get $AG Puts 11-25 days out.
SILVER decision timePlease 1st of all click the boost 🚀 button if you want me to post more ideas and follow me to support my work! It's absolutely for free.
This is follow-up to the idea I posted 3 months ago when I called falling wedge breakout to the upside.
XAGUSD is doing really well since and now is heading into strong resistance cluster created by zone 24.15-24.40 and by major downtrendline (red). Notice the price action which formed rising wedge pattern (lime) which is usually bearish, but it can also break to the upside - in the early stage of new uptrend. So decision time is coming ... breakout up or down? Just closed part of the long position just in case we turn down south. I will not be trading until break occurs and things settle a bit. There is another hurdle @ 26.20-26.95. Sitting on the sidelines is sometimes the best thing one can do!
Check my other stuff in related ideas.
Please boost🚀, comment🗣️, follow me✒️, enjoy📺!
⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
the start of the 3rd wave is nearcrab harmonic pattern:
X=$201.6
A=$0.02
AB=0.61 XA
BC=0.38 AB
0.78 BC=$3.76
0.88 BC=$4.68
1.13 BC=$7.97
1.41 BC=$14.7
1.6 BC=$23
0.78 XA=$28
2 BC=$53.4
0.88 XA=$70.5
2.24 BC=$90.2
2.6 BC=$206
1.13 XA=$668
3.6 BC=$1835
1.27 XA=$2474
4.23 BC=$7087
1.41 XA=$8830
1.6 XA=$60087
GOLD ⚔️ SILVER🥇XAUXAG🥈 heading to strong resistance level. It's confluence of trendlines and 50% fib retracement of the initial impulse breaking the major uptrendline. I expect backtest of it and possible reversal which would be bullish for both metals.
Check my other stuff in related ideas.
Please like👍, comment🗣️, follow me✒️, enjoy📺!
⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
SILVER falling wedge breakoutPlease 1st of all click the boost🚀 button if you want me to post more ideas and follow me to support my work! It's absolutely for free.
XAGUSD backtested twice the previously broken violet downtrendline (zoom out) and it held as support. Price recently bounced up and now breaking the falling wedge. If the break is successful then we could see price rising to the resistance @ 26.21.
GOLD/SILVER ratio (see chart below) reached strong resistance and now dropping hard (as predicted) meaning that silver is stronger than gold. This is usually the case in metals bull market, silver is just high beta version of gold (aka gold on steroids).
Are the metals bulls around the corner?
Check my other stuff in related ideas.
Please boost🚀, comment🗣️, follow me✒️, enjoy📺!
⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
Silver appears to be triggering an inverse head & shouldersOne of the bigger green candlesticks we’ve seen on the daily chart for silver in awhile…would not be surprised if this breakout takes us to the $22 measured move target. The 1day 200 ma(in blue) will be waiting in that zone to likely provide resistance. *Not financial advice*
Possible short on further fed funds hikes down to $5I expect more downside in miners if perceived hawkishness from the fed is maintained. Soon though, they'll cave and sacrifice the dollar to do what they think will save the markets, which will lead to an explosion in precious metals. These miners will be the ultimate levered trade on the coming fed pivot so be ready to reverse to long.
First Majestic Silver Corp - AG | by requestI am flattered to have had a request for a chart. Special thank you to @RocketFuel20 🙂
My view of this chart is that the price action is somewhat inconclusive at the moment. That said, we CAN summarize a theme for which there is evidence to believe that this AG is NOT YET ready to buy:
How does the price behave?
Following a top, we observe from August 2014 - January 2016 :
1. Failed breakout; 2. a subsequent selloff (collapse tbh); 3. a little rally; 4. another subsequent selloff - after which point we develop a bottom and then takeoff with a legit and very attractive breakout.
Notice this series of events takes place over roughly 17 months.
Based on where we are today and the 1 - 4 summary provided above, I think it is reasonable to expect some kind of rally in the short term. Will it be the big attractive breakout? I cannot say for sure, but I remain doubtful based on the historical behavior and the "why", which follows:
Now we can start to ask why , based on what we observe in in the economy today:
Kicking off this post, I mention that the evidence is inconclusive at the moment. To me, $AG is not something I would buy or short, but rather I would wait until we see more of a bottom.
Last, the US is raising interest rates, which means that the US Dollar is likely to gain strength (not so bullish for silver - or any precious metal... or any risk asset really). On that note, when the time comes to buy silver, I think you are better suited to buy in the spot market, as opposed to a company that produces silver to sell on the open market. So for right now, the portfolio management question becomes: would you rather own US Debt securities that are paying a guaranteed risk-free rate of return, or would you rather speculate in silver? I personally would not choose to speculate in silver, based on the data we have in this chart.
Take care.
God bless!
SILVER XAGUSD Supply And Demand Support And Resistance AnalysisPlease see picture for analysis.
-Price is reacting off of demand/support that's been holding for 2 years now.
-Still a very high demand for REAL physical silver.
-Waiting for confirmation.
Thoughts? if you like it don't forget to hit the like =)
XAGUSD SILVER Supply And Demand AnalysisSee picture for top-down analysis:
-Short Term Downward ML Break
-opposing zones removed
-People might think it's a great demand setup
which I agree but taking a look at the overall
price action over the last 7 days, you can see
price is making overall LL/LH by about .6%
-If someone bought at this demand then using a
structure SL is recommended.
-Low risk reward but higher probability for a 1:1 or
0.5:1 R:R.
-NO TRADE FOR ME