SILVER UPDATE technicaly based forecast
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💡 SILVER technicaly based idea, technicaly indicators showing we can expect higher push up in price, we can see strong bulish candels formation, technicaly picture good, expecting to see push in price till FIBO 0.6, possible based on candl foramtion and break of 0.6 FIBO
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Silvercharts
Silver fractalSome silver fractals, what i mean by 'equilibrium crossover' is the point where the rising wedge breaks down into the falling wedge, producing the bullish pattern. After some more movement down within the wedge upward movement can be expected as per the falling wedge pattern. Used a mirror support level for a possible reversal point for silver.
Gold/ Silver Ratio - Historic First - 115 : 1The gold silver ratio (GSR) has set a new 100 year record, with the value of 1 ounce of gold exceeding over 115 ounces of silver.
I would suspect that the drop in silver is largely due to the global slowdown that we are currently facing from the Coronavirus, as silver is predominantly an industrial metal, given that this slowdown is far from over then the logical conclusion would be that silver's move to the downside is not yet over.
This means that despite the GSR being in excess of 115, then higher levels are entirely possible, and are in fact likely.
This comes on the back of silver making intraday lows, below that of the 2015 lows around $13.65, with silver touching $12.70, this means that we could be seeing silver in the single digits in the not-too-distant future, particularly if the global lock-downs continue.
That being said, we are likely to see some enthusiastic buying at these levels from precious metals investors, particularly with the GSR at these levels.
So a bounce is possible, although i do see lower nominal silver prices going forward, the GSR however, may not display the same one sided move.
Sources:
www.macrotrends.net
XAGUSD. Does this mean growth?Hey.
In just 4 days, the Silver price managed to fall from the resistance level to the support level.
For now, I would not recommend buying or selling silver. Because in this case it is a big risk, however,
the price will rise in the near future and will reach its target at a key level. Be careful. I wish you good luck.
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This idea does not provide the financial advice.
Silver/USD bullish signsHello.
Few noticements here on weekly time frame on silver:
Double bottom (red marks)
Good, clean looking reversed head and shoulders
After breaking the 200 ema (red line) it used it as support. If you compare this to previous movement it could be possible that we see upward movement as as long as we stay on top of it.
Same happened on the 20 ema (yellow line) four weeks back. Tested it 3 times but bulls took the lead.
Also downtrend (greenline) is broken with and nice looking cross on 50 (brown) and 200 ema which both are bullishs signs
Just simple speculation ;)
If you do trades always use stop loss
-Jebu
Waiting for SilverIf you like this idea, don't forget to support it clicking the Like Button!
Hi guys. This idea is a long term analysis of the Silver bullish trend (probably bullish).
My tactic for silver is to wait until the point (C) is reached and to expect for candle confirmation of bullish trend continuation.
If you are looking for a short-term trade on Elliott corrective waves, I suggest you look to the related copper idea.
Disclosure: My ideas contain statements and projections based on assumptions on capital markets, and therefore inherently subject to numerous risks and uncertainties.
Before buying or selling any stock you should do your own research and reach your own conclusion or consult a financial advisor. Investing includes risks, including loss of principal.
I am not a financial advisor.
Silver Long Term Bullish Trend with 3 Possible Scenarios Currently bullish on silver with the following scenarios to be considered
A. Price breaks 18.20 resistance and continues higher to 18.70 or beyond
B. Short term pullback to 9ema zone before we continue higher and break resistance
C. A larger pullback to do more formal retest of the broken 17.40 area
All daily trend signals have flipped bullish (9ema, 20ma, ichi cloud twisting green), MACD also signaling green, the STOCHRSI is signalling a pullback in the near future.
Silver is a buy, any puts i'm in are for hedging.
Silver Chart AnalysisIn this long term chart of silver, a ascending broadening wedge is present, which led to a bearish breakdown. A falling wedge which led to a bullish breakout. A bearish descending triangle, and a recently formed bull flag that may lead to further upsides. Rising MACD supports this idea.