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Si1! (Silver Futures)

Silver (SI) Bottoming on Weekly ChartSilver, like gold, is forming a significant bottom as its weekly and daily RSI, Stochastics and MACD have all either turned higher or are completing their bottoming stage. Significantly, silver has been trading within a price range that previously saw consolidation activity in the summer months of 2010 before silver skyrocketed to near 50. I`m not suggesting similar upside but at the very least, a respectable initial upside target in the 18.5-19 zone where previous support had been found in the first half of this year, which will likely coincide with the massive downtrend resistance line (as seen connecting the May 2011 peak to the July 2014 top). Feel free to visit stks.co for today's technical analysis on $GC_F, $SI_F, $USDX, $EURUSD, $USDJPY, $GBPUSD, $NG_F, $CT_F, $ZC_F, $ZW_F, $SB_F, $KC_F. Website: tradablepatterns.com FB: facebook.com Stocktwits: stocktwits.com Twitter: twitter.com Linkedin: www.linkedin.com YouTube: www.youtube.com Google+: google.com Email: info@tradablepatterns.com
COMEX:SI1!Long
by TradablePatterns
1
Silver's make or break appointment with NFP'sMake or break? I wish I knew. The last 3 years is almost always break, I think. Fact is that is so easy for sellers here, that if the line breaks there are going for targets lower derived from both triangles. Easy is sometimes suspicious. This weeks down candle volume is 1/4, up to this morning, of the volume of last week's doji. Posted current contract days ago, update here: Dimitri Speck's seasonal chart says that first two weeks of May are mostly bullish for the last 37 years. www.seasonal-charts.com Sentiment trader's data shows 28% bulls at support. Gofo rates 1-6 months are still negative. The best of luck, Cheers, Panos
FX:XAGUSD
by pantheo