Silverlong
SILVER/XAGUSD - Stay PatientAlthough price does look like it is breaking the bearish flag formation it has created, I would be extremely wary of a strong approaching supportive level coming up, price could very easily reverse from this point. What I will be waiting to see is a clear break of the supportive level marked followed by a re-test and rejection before entering a sell position.
COT Data - 71% Long
Sentiment Data - 89% Long
Silver Bump and Run Bottom QuickpostPlease review Bulkowski's site for the full write up of a Bump and Run Reversal Bottom
thepatternsite.com
Our lead in is a little short, being from Sept 1 to Sept 18, being about half the time of the 35 day average. Bulkowski does say the lead in can vary widely and I have even seen this on micro timeframes.
Very promisingly is this three day MACD set up, which has a significant amount of hidden bullish divergence (price action setting a higher low but the indicator setting a lower low) which suggest the MACD will cross the signal line as we get continuation of the uptrend (a higher high)
A review of Bulkowski always has a rundown of what happens in case of a throwback and so I refer you to him. This is a quickpost, after all. Please see my linked post on another BARR bottom. I really kick myself for not staying in this trade long enough. I am in AGQ and hope to play this to a higher high.
Silver in Uptrend channel.Silver (Spot) - Short term - We look to Buy
Trading within a Corrective Channel formation.
Prices have reacted from 23.58.
The trend of higher lows is located at 24.00. Further upside is expected although we prefer to set longs at our bespoke support levels resulting in improved risk/reward. Pivot resistance is at 25.53.
Preferred trade is to buy on dips.
Our profit targets will be 25.53 and 26.50
Resistance: 24.55 / 25.21 / 25.53
Support: 24.00 / 23.75 / 23.51
$XAGUSD - 26.120 is a must-test levelHi guys! 👋🏻
🔔 Silver mostly outperforms Gold whenever the DXY weakens, as a cheaper alternative of the safe-haven, similar to Bitcoin - Ethereum relation.
🔔 The daily chart demonstrates an end to the correction and an upcoming bullish run, Fibo 0.618 test, MACD and RSI.
🔔 Silver will continue bullish as global pandemic and money pumping into the economy continues. For the short-term I'd wait for a breakout from the dynamic resistance and go long upto the Fibo 0.618 level of the September drop, though Silver will and must test the dynamic resistance of the downtrend channel (flag).
✊🏻 Good luck with your trades! ✊🏻
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ARDLooks to have hit long term support. Could reverse here for another leg higher. Argent currently have two projects in WA being drilled to expand their resources and reserves for copper/gold/silver. Both projects sit nicely in the vicinity of Newcrests massive Cadia mine, so this is elephant country. The Kempfield project had delays in July and August due to wet weather but is now in full swing. These assay results are due any day and could provide significant upside. Drilling at their second resource is due to begin this month. Exciting times.
SILVER LONG ENTRY XAGUSD SLVSilver, even after a savage nuke still remains in an uptrend. The pattern above is a BULLISH BAT harmonic. See my previous post on LINKUSD to see how these patterns work. Keep an eye on DXY as well. TP's include A, B and C of the harmonic! Watch for a bull div to form as we get closer to the PCZ!
Buy XAGUSDMake your own decision I choose to scalp it personally when it starts to retrace, or you can just place the trade and swing it. I believe that the continuous inflation on the US dollar is steadily going to drive gold and silver up. However, the recent retracement will likely vanish soon when another round of economic stimulus funding comes. Hope the trade goes well :-).
$XAGUSD - Trend continuation followed by a breakoutHello, dear friends!
Here is my projection for silver. Silver is above the bullish flag and tested the upper edge of the flag as a resistance so is about to continue the uptrend.
See important support and resistance levels on the chart.
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Silver can hit before 6 months all time high! 55 usd+expecting that its possible that silver can hit before 6 months the all time high 55 usd+
The gold have already done it, and i think Silver can increase next time 130%.\
Our big friends warren buffet hold also silver for log term.
Have good time all(: