Silver
Silver - Another Textbook Trade For 2025!Silver ( TVC:SILVER ) is again approaching strong support:
Click chart above to see the detailed analysis👆🏻
Silver has now been consolidating for more than 6 months and is slowly but steadily approaching the previous horizontal support. Another retest would perfectly match with the overall bullish trend, the rising channel formation, as well as the fact that Silver will soon catch up with Gold.
Levels to watch: $27.0, $34.0
Keep your long term vision,
Philip (BasicTrading)
SPY/QQQ Plan Your Trade For 12-31: Top PatternHappy New Year Everyone,
Today's pattern is a TOP pattern. This suggests the SPY/QQQ will rally in early trading, attempting to identify a resistance level and then rolling into a TOP type of pattern.
I don't expect the markets to fall much after reaching the top/resistance level. I expect it to be more of a stalling type of price action after reaching resistance.
Gold and Silver will likely attempt to confirm a base/bottom near recent lows. I don't expect too much movement in metals today.
Bitcoin moved below recent support, then rejected back to the upside. If this support fails, Bitcoin will move strongly to the downside over the next few days.
As we move into 2025, capital will start to rush back into the markets in early January. This low-liquidity phase will end near Jan 5 through Jan 8.
Be prepared for price to attempt to revert back into normal 0.5 to 1.25% price ranges - consolidating as liquidity increases in the markets over time.
Remember, the first half of 2025 will be very volatile - so buckle up and get ready for some big price rotation in early 2025.
Get some..
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Bearish hammer on 6M chartI sold all of my AMEX:SILJ last week, which I'd typically wait for the yearly candle to close but it seemed like it was barely holding on by a thread and might not wait the few more days. Then the bottom completely fell out this morning. Whew, close call
The 6M candle looks like death. I'm still very bullish on silver as a LT play but I don't want to be out on the edge of the risk curve while the market pukes. Next major support is around $6.
SPY/QQQ Plan Your Trade For 12/30 : GAP ReversalThis week should resolve as a Momentum Rally in the SPY/QQQ. Yet, I believe price action will be very volatile as we are still transitioning through the holidays.
Overall, I expect the SPY/QQQ to attempt to mount a fairly solid rally this week - possibly attempting to reach new All-Time highs again.
Then, I believe the SPY/QQQ will move into an extended topping pattern over the next 2+ weeks - resulting in a breakdown trend after the Inauguration.
Gold and Silver appear to be trying to base/bottom and we may see a decent rally in metals this week. I hope so because I don't believe Metals should be this low compared to the risk factors throughout the global markets.
Bitcoin is transitioning through an EPP pattern Flag breakdown event. If this continues, I suspect we'll see a downward price move targeting $74k before the end of January 2025.
Remember, my Daily/Weekly Cycle Patterns are designed to help us plan and prepare for market opportunities. No, they are not 100% perfect all the time. But I don't know of anything else that can attempt to accurately identify price trends, setups, events weeks and months into the future.
2025 is going to be a great year for traders. Remember, it is all about what you can do with the information I share to profit from these moves.
Get some.
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Silver bells have a morbid tone compared to gold target to R24.1Unlike Gold which is still holding its stature in the Symmetrical Triangle.
Silver has broken below not only it's Uptrend but also below the neckline of a Head and Shoulders.
Now commodities don't stay down for too long normally, so I wouldn't be surprised if this market rockets up due to some "catalyst" in the new year.
But until then, the price and nature is bearish and will set a target of around $24.15.
The price does however need to close below the 200MA to make it a higher probability idea.
Silver H4 | Rising into overlap resistanceSilver (XAG/USD) is rising towards an overlap resistance and could potentially reverse off this level to drop lower.
Sell entry is at 29.78 which is an overlap resistance.
Stop loss is at 30.30 which is a level that sits above the 38.2% Fibonacci retracement level and a pullback resistance.
Take profit is at 28.80 which is a swing-low support.
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Silver - Bulls have a setup for another final push higher We can count silver as completing the second leg up in a large A up, B down, C up structure off the major pandemic low. The second leg up in a wave C normally stretches to at least 100% ext of the wave A up and is normally subdivided into five micro waves.
I think bulls should produce the final wave (v) up targeting the Red Box
Weekly Forex Forecast: Last Show For 2024Dec 30th to Jan 3rd.
USD is still strong, and so are the indices. I will be looking for buys until there is a significant bearish Break of Structure.
A strong USD is a headwind for Gold, Silver and the other metals. It is also a headwind for GBP, EUR and the other majors. USDCHF, USDCAD and USDJPY should see some upside.
Thank you for hangin' with me for 2024! I hope you found a benefit in my weekly forecasts this year. 2025 will be even better!
Enjoy!
May profits be upon you.
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Silver Is Approaching The Daily TrendHey Traders, in tomorrow's trading session we are monitoring XAGUSD for a buying opportunity around 28.700 zone, Silver is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 28.700 support and resistance area.
Trade safe, Joe.
SILVER HEAND-n-SHOULDERS FORMATION LIKELY TO DRIVE PRICE DOWN!With the completion of Head-n-Shoulders formation, silver price may further drop lower in coming days.
N.B!
- XAGUSD price might not follow the drawn lines . Actual price movements may likely differ from the forecast.
- Let emotions and sentiments work for you
- ALWAYS Use Proper Risk Management In Your Trades
#silver
#xagusd
SILVER BULLISH BIAS RIGHT NOW| LONG
Hello, Friends!
The BB lower band is nearby so SILVER is in the oversold territory. Thus, despite the downtrend on the 1W timeframe I think that we will see a bullish reaction from the support line below and a move up towards the target at around 31.649.
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SPY/QQQ Plan Your Trade For 12-27-24: Momentum Rally PatternThe last Friday of the year (2024) should show up as a moderate Momentum Rally in the SPY/QQQ - possibly seeing the SPY target 603 or higher by the end of the day.
Gold and Silver are consolidating into a FLAGGING formation.
Bitcoin is trapped in a consolidation range (right shoulder) pattern that should break downward over the next 5+ days.
This is the time to position your trades for the beginning of 2025 and prepare for moderate volatility as the markets struggle for direction.
The Momentum Rally pattern, today, should present a very clean opportunity for skilled day traders.
I believe a deeper low is likely to setup between January 15 and January 25, 2025. So, be prepared for another roll to the downside after we get past the New Year.
Get some.
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SILVER Outlook after the Dip. What to expect NOW?As you can see, the price has repeatedly hit the trendline and then increased. This time, the same situation has occurred, so the trendline can be relied upon. Additionally, a hidden bullish divergence is visible, indicating a potential price increase.
Give me some energy !!
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⚠️Things can change...
The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
SILVER Will Go Lower! Sell!
Take a look at our analysis for SILVER.
Time Frame: 12h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 29.812.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 28.778 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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