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Si1! (Silver Futures)

UPD on SilverMarkets are still closed, yet Silver futures are up +10% so far. $XAUXAG, $SLV, $SIL, $SILJ Do you believe that all RH type retailers are having futures accounts and buying contracts? Well, probably not. The price increase are brokers who are hedging the spot market, bullion banks that are building short positions and miners that locking prices. Silver is not a penny stock to "go to the moon" in a day. As I said it's already up +10%. This is huge for the silver market. There is not possible way for bullion banks to lose control on the derivatives side, because they simply can print as many contracts as they like through their unlimited access to liquidity. We are talking about JP Morgan et al here. The only way they can "lose" is though physical sales, that is coins and bars from dealers who have contracts that stand to deliver. If demand in physical increases, dealers will order more pushing hedgers to their limits, as bullion banks are historically always short the market. There will be huge gaps today in everything related to silver and miners: SLV, SIL, SILJ. When market opens, possibly the "silver squeeze" army will dive into calls to push the price up. Probs that silver will move meaningfully higher are few, but who knows? Never say never. I wish all my assumptions are wrong and goes to the moon. The purpose of this note is to make you think, use tight stop losses and be on alert that silver maybe will dive along with indices in case of a credit event. With VIX elevated and US High Yield CCC at the bottom demand zone as I've posted, we are probably due for a credit event near soon as liquidity dries. The Silver / Gold ratio I've posted reached supply (resistance) zone already. Silver's monthly chart is entering into supply zone a bit higher and it's right now at the NL of a giant IH&S with Price Objective around $49.50. Do you think that this area will be cleared that easy because of a retailers' like us short squeeze when hedgers are only -73K contracts short as per latest CFTC report and silver's sentiment index is entering optimistic area? Probably not again. Usually, moves like this, take place when sentiment is pessimistic and stops are taken for breakfast. Price is already into supply zone of the quarterly time frame Regarding miners and the watching list I've posted late December, for those who took any trade, I'll sell 50% into strength today, tight my SL's and trail the rest, pending today's Price Action. Silver looks like it's reaching the middle of the daily cycle and maybe will start correction either in price or time, especially if dollar clears 91.20, the NL area of the IH&S in the daily. www.tradingview.com Again, I wish I'm wrong and all goes well. Hourly chart looks constructive so far working on a bull flag. Take care guys, Markets will always be there Cheers, all the best P.
COMEX:SI1!Long
by pantheo
Silver Trendline Breakout, $30 TargetSilver has broken above the downtrend line that formed after price peaked at $30/oz back in August. This breakout comes on the heels of a double bottom pattern that formed in the $21-$22/oz area from Sep-Nov which combined with the trendline breakout indicate that traders are likely going to take price back up to test the $30/oz level again. The current price candles are yellowish-lime in color which indicate bullish momentum volatility. In general price will continue to rise as long as there is bullish momentum volatility. The PPO indicator shows the green PPO line rising above the purple signal line which indicates bullish short-term momentum in price. Both lines are crossing above the 0 level which indicates that bullish momentum is forming in the intermediate-term as well. The ADX indicator shows the green DI line above the purple DI line which indicates a bullish short-term trend in price. In order for the trend to be considered strong the histogram in the background needs to be rising which for now it is not. The TMI indicator shows all three MACD histograms above the 0 level which indicates short, medium and long-term bullish bias in momentum. The TDI indicator shows the yellow RSI line rising above the horizontal 60 level which indicates strong bullish momentum for price. The TDI background is shaded green which indicates that there is bullish momentum in the intermediate-term as well. The yellow RSI line is also above the upper blue Bollinger Band which indicates short-term bullish momentum volatility. Overall, silver price looks good for a move back to $30 on this breakout.
COMEX:SI1!Long
by PrepForProfit
1
50 Year Chart of Silver - Two Major Bullish Patterns DevelopingScroll below for My background on silver and three things I learned: You're looking at a quarterly chart representing silver's price history since 1970. A) I'm seeing two bullish chart patterns developing: 1) Ascending triangle 2) Cup and handle B) Significant break of structure: The light blue rectangle highlights how significant $18 - $20 has been in the last decade+. This is why last quarter's breakout was huge. Local peak in January 2008 Major breakout point in July 2010 before reaching new all time highs Key resistance for 6 years (2014 - 2020). Breakout in 2020. Now here's where the 50 quarter moving average and the 21 quarter moving average are crossing: It's also the .618 retracement from the March 2020 low to the recent peak in July: Some background: I have a long history with silver. It was my best trade in 2011, and also my first big winner along with uranium mining stocks in the same period. Winning that trade is what really got me obsessed with markets. I became attached to commodity markets because that's where I saw some success. But I stopped doing well for the next few years (2012 - 2015). Then in November 2015 I started buying Bitcoin. After BTC's big run, whatever confidence I lost in being a trader was restored. Three things I learned: 1) Becoming attached to any single market gets you emotional and blinds you of other opportunities. 2) Know your time frame of your analysis and respect it. 3) Long time horizon set-ups have the highest probability, but require the most patience. Here's my analysis on the USD in 2016. If weakness in the dollar is about halfway into its cycle, the final half may be the catalyst: And here's my last long term analysis on silver in March 2018: - Thanks for reading
COMEX:SI1!Long
by Lanmar
33
Silver Running it's final Rally Silver is going to rally to its strong SUPPLYZONE The selling pressure will possibly activated as price goes near to cluster of high selling volume (point of control) In which, big money on short position will incur higher selling force to resist price rally above SUPPLY ZONE . While long position trader will trigger selling order to take profit near SUPPLY ZONE . Large selling order being placed near SUPPLY ZONE , shall then make significant price retracement to at least fib 61.8%
COMEX:SI1!Short
by joseph_tan
TNX and Precious Metals 8/18/2020This is the TNX at the daily view. There are way too many retail traders who are trading precious metals blindly. The first rule in trading? Protect your profits (capital preservation). Generally, you cannot protect your capital if you're trading something that you don't understand. The ten-year note is important since it has an inverse relationship with precious metals and a correlating relationship with the financials sector (XLF). The TNX is one of the centerpieces of the financial sector. If the TNX does well, then financials do well. However, when the TNX tanks, then precious metals will rally about 2-4 weeks later... usually. Sometimes the reaction is quicker if out of panic. On June 23rd, TNX tanked and moved below the middle of the channel (white line). On July 13th, both gold and silver began their super rally. On August 6th, the TNX began its comeback rally and reclaimed its former uptrend support. On August 11th, gold and silver began their corrective selloff. To predict gold and silver, it's not only how many buyers/sellers there are. Traders need to consider both the dollar strength and the yields - especially the TNX. Now, the dollar strength and the yields are locked in a battle to control gold and silver's prices. According to Bloomberg, the dollar is now overcrowded in shorts. Overcrowded means vulnerable for a fierce reversal. If the TNX holds its support or at least remain flat, that may buy enough time for the DXY to bounce hard. If the DXY bounces hard, then precious metals may pullback further for a much better entry price.
TVC:TNX
by Itsallsotiresome
3
Silver hit target on time! Next projected target at 30.The target previously posted hit target spot on time ! So what’s next? I would hazard a projection that despite the parabolic run, it still might have some legs to go, but am expecting the next target area (green ellipse with red outline) to be volatile. Not expecting a close above 30.30 though... it is just over stretched. IF silver still continues, the;we are in for some serious s hitting the fan... I don’t know what it would be, next week tells more! Btw, for study sake, I have put in the bright green arrows for the typical best entry points. Stay safe....
COMEX:SI1!
by Auguraltrader
When is Silver Pulling Back? 8/6/2020It's a legitimate question actually. I got no clue how to detect a pullback with silver. In precious metals, the price can be overbought and parabolic longer than anyone's expectations. Traditional indicators and price action readings tends to be useless. You have to know the overall demand of gold and silver and why people are buying into it. All I know is that there is a general monthly pullback +/- 3 days of the EOM. It happened on July 30-31 last time. Don't get me wrong. I am very, very bullish with silver and I only see this as the beginning of its bull market. I'll be buying dips on the way up. What are the general resistances for silver? Resistance 1: About $30 Resistance 2: About $40 Resistance 3: About $50 Resistance 4: The moon Resistance 5: Pluto
COMEX:SI1!
by Itsallsotiresome
Silver Consolidation 8/5/2020Silver is finally catching up to gold. It seems that the monthly pullback was on July 30-31... near the 1st of every month. The issue is that silver is how at a key resistance level. Why didn't I enter into silver yet? It's because of the dollar strength. If the DXY has a confirmed double bottom pattern, we might see a bounce in the dollar... and a possible pullback for silver. I'm very, very bullish with silver. I want to enter into it soon especially since the dollar is tanking too. Even if silver has a pullback, it's still in a consolidation phase. If it pulls back, it won't be long before silver reaches above $30. Even if you enter into silver now, in 3-6 months, you'll still end up with profits unless the Federal Reserve suddenly stops existing.
COMEX:SI1!
by Itsallsotiresome