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Silvershort

Bearish Trend on Silver in Short-termThe Silver price is currently trading below the 21-day and 50-day SMAs. The Stochastic Oscillator period 14 is bellow 20 levels on the daily chart with the signal lines pointing down to indicate a sell signal. Also the bullish trend line has been broken and that in and of itself is not a good sign for the bulls. The next week or two should be crucial and tell us where we are going longer-term. Technically, Silver has been hovering around 16.90 since mid-November, but broke below this line on Friday, with sharp losses. Now the XAG/USD pair is expected to find support at 16.50, and a fall through could take it to the next support level of 16.20 (31st July low). We opened Short positions below 16.70 with first target at 16.20 & second TP at 16.00 in extension. Our SL is at 17.20. The pair is expected to find its first resistance at $17.00. It’s very likely that this level will continue to cause resistance based upon the large, round, psychologically significant figure, and of course the inability to close above it for the last three weeks. As well, the 21-week SMA is showing resistance at 17.30 combined with middle line of Bollinger Bands on weekly chart.
OANDA:XAGUSDShort
by ForexTrendline
In the Blink of an eye The white metal could reach $16 per ounceGold and silver prices are modestly lower in midday U.S. trading Wednesday. The global trader and investor environment at present are one of the scant geopolitical concerns amid a booming U.S. stock market. That’s a bearish scenario for the safe-haven metals. However, such cannot continue indefinitely and veteran metals market bulls are biding their time. December gold futures were last down $4.70 an ounce at 1,455.60. December Comex silver prices were last down $0.085 at $16.96 an ounce. A couple of stronger-than-expected U.S. economic reports also pressured the precious metals markets today. The second revision of third-quarter GDP came in at up 2.1%, year-on-year, which was better than the initial estimate of up 1.9%. Durable goods orders also rose a better-than-expected 0.6% in October from September. Other U.S. data released today were a mixed bag. Asian and European stock markets were mixed overnight, with European shares mostly up and Asian shares mostly down. The U.S. stock indexes are mixed at midday after setting more records and contract highs overnight. U.S. markets are closed for the Thanksgiving holiday on Thursday. There is still little risk aversion in the marketplace at present, amid notions the U.S. and China are moving ever closer to a partial trade deal, and as there are no geopolitical flare-ups that are spooking traders and investors. The stock markets worldwide are also benefitting from a very low inflationary environment that makes investing in stocks about the only game in town. In overnight news, China’s industrial profits fell by the most on record in October—down 9.9%, year-on-year. China’s producer price index was down 1.6% in October, which continues to point to worrisomely low global inflation. This gets a bearish read by the metals markets, as it suggests shrinking demand from consumers and commercial end-users from the world’s second-largest economy and a major metals consumer.
OANDA:XAGUSD
by GoldSilverAnalyst
Silver & other commodities have more downside, SILVER TO $16.00!Commodities are feeling the downside pressure due to the strong US dollar, there is money flowing out safe-haven assets into the equity market since it's been climbing to all-time highs. Silver forms a very interesting pattern and has been doing so since the start of September when it fell drastically from the strong rally. The pattern involves a strong 1-2-day drop then consolidation, slight pop into the broken support now resistance then another stern drop forming a downward channel for the past 3-4 months. We expect the continuation, a slight slow pop on weak volume into $17.45 resistance based on the broken low and top of the channel then strong drop through $16.75 into $16.00 potentially. Disclaimer: This idea is for educational purposes only, this is not a definite trading/investing signal. Trading is risky and should be taken at your own accord.
COMEX:SI1!Short
by TRADEPROAcademy
Trust me you still have a chance to enter short in silverGold and silver prices are higher in early U.S. trading Thursday. Trader and investors risk aversion has upticked as the week progresses and that’s benefitting the safe-haven metals. The shorter-term futures traders that had sold the metals are also getting skittish and covering those short positions (buying them back). December gold futures were last up $5.90 an ounce at 1,469.10. December Comex silver prices were last up $0.072 at $16.985 an ounce. Asian and European stock indexes were mixed but mostly lower overnight. U.S. stock indexes are pointed toward slightly lower openings when the New York day session begins. Risk aversion has up-ticked as the trading week progresses. A U.S.-China trade partial agreement now appears farther off after both sides have made comments this week to support that notion. China is reportedly balking at specific amounts of U.S. agricultural products it would be required to purchase in a trade deal. Meantime, President Trump said the U.S. is not going to roll back all of its tariffs on Chinese imports, which is what China is apparently requesting. There was more downbeat economic data coming out of China Thursday, to support President Trump’s assertions the trade war is hurting China way more than the U.S. China’s industrial output in October was up 4.7% year-on-year—down from a rise of 5.8% in September. Retail sales were up 7.2% in October, also missing on the downside trade forecasts. Other economic data released from China Thursday was a mixed bag. In other overnight news, the Eurozone third-quarter gross domestic product rose 0.2% from the second quarter and was up 1.2%, year-on-year. Those numbers were very close to market expectations. Global risk appetite is also dented this week by an escalation of civil unrest in Hong Kong, including police shooting at least one protestor. The key “outside markets” today see the U.S. dollar index slightly higher. Nymex crude oil prices are higher and trading around $57.70 a barrel. U.S. economic data due for release Thursday includes the weekly jobless claims report, the producer price index, and the weekly DOE liquid energy stocks report. Several Federal Reserve officials are also slated to speak today.
OANDA:XAGUSD
by GoldSilverAnalyst
Silver has FAILED, it will SOON go to 4$/ozSilver has created a very bad pattern. Its price that has always been overrated over the years is finally returning to correct values. I have been shorting the silver since April 2011 when it was at $ 50 and I currently have good reason to believe that the price will continue to fall. Silver is an even more useless metal than gold and is much less attractive than the traditional market. Gold and silver made their times in the 70s, now it's time for traditional markets to shine, having real intrinsic value. My advice is a short at least up to $ 4 zone. I think the real value of silver is between $ 4 and $ 1 an ounce. The value will also fall thanks to markets such as the S&P 500, Nasdaq and Dow Jones which will continue to rise for a long time.
FX:XAGUSDShort
by silver_surfer21
Silver Poised For A Mega MoveAt the time of publishing this research report, Gold is trading at $1488 and silver is at $17.50. Gold dropped more than 1% on Friday which makes the prices plunged from $1510 to $1480($30 move). The Donald J.trump tweet on Friday had a significant impact on the market in which he showed optimism ahead of his meeting with Chinese Vice Premier Liu He at the White House on Friday afternoon. Please, note-Our Trading position for gold and silver is active in our portfolio. Trump tweeted: “Good things are happening at China Trade Talk Meeting. Warmer feelings than in the recent past, more like the Old Days. I will be meeting with the Vice Premier today. All would like to see something significant happen!” The announcement of a possible partial trade deal between the U.S. and China boosted investors' risk appetite which drove the stock market higher and pressured precious metals complex. The Interest rate cuts has played a major role in the steep incline which we have witnessed in the precious metals complex however right now markets are pricing in a lesser chance of a rate cut in October, with the latest estimates from the CME FedWatch Tool projecting a 67% chance of a cut versus the 87% chance just a couple of days ago. Old comments-You need to keep in mind that at the moment it seems that markets have gotten ahead of themselves and pricing in a more than 80% chance of looser U.S. monetary policy however if the fed won't cut rates or even if easing will get delayed then it will turn to be negative for the entire precious metals space. Britain and the EU have fixed there next meeting on the Brexit deal which also helped to boost investors' risk appetite and brought positivity back into the market. Old comments-Technical levels to watch out for, Advises and recommendation from Goldsilveranalyst Although we understand all the factors mentioned which are supporting the price of Gold are still there including continuous fall in yields, geopolitical risks, fears of the industrial economy and notions of Quantitative easing coming from the major central banks of the world but despite the bullish momentum which we are witnessing,we have doubts about the sustainability of Gold's surge. Prices moved up substantially, and even though gold prices can reach $1585, we believe investors should lock in some profit at these levels. Gold has had a great run over the last year, up 17%. It has been a perfect storm of sorts for Gold , especially on the interest-rate front. With long-term interest rates declining globally, Gold has been an attractive alternative to debt," Gold is an excellent alternative to any risk, including economic instability and geopolitical tensions. However, at these levels, Gold is just too expensive. The two metals we recommend considering right now are platinum and silver . Both are historically quite cheap versus Gold , and in our opinion, may offer more upside potential should gold keep grinding higher,". "The price of platinum has mostly traded above the price of Gold , but that is not the case today. For those looking for an alternative to Gold , we recommend consideration of platinum and silver ," Summary-our macro research report suggests that the room for the equity market and the DXY to move higher from the level they are currently at- still exist,investors needs to be aware and cautioned what media is portraying and should research the market on there own,or should take the advise by the seasoned analysts however there shouldn't be any conflict of interest involved with in the advise itself. Even though the possibility for the equity market to grow even higher still exist we recommend investors to stay away from the stock indices as the reward doesn't worth the risk in itself. Our independent bias towards the precious metals complex remains bearish until gold breaks above $1,525 an ounce as breaking above would support more investors and traders to long gold with heavy conviction. Until that happens our bearish conviction will remain within the precious metal sector. Data to watch Next week’s biggest data release will be the U.S. retail sales on Wednesday, which are estimated to come in at 0.3% in September. The U.S. Beige book is also scheduled for publication on Wednesday. “Retail sales are a key measure of optimism. Any weakness there should help gold . Other key data sets to watch include the NY Empire State manufacturing index out on Tuesday and Thursday’s slate of numbers such as U.S. housing data, industrial production, and the Philly Fed manufacturing index.
OANDA:XAGUSD
by GoldSilverAnalyst
Elliott Wave View: Has Silver Started the Next Leg HigherShort term Elliott Wave view suggests the rally in Silver (XAGUSD) to 17.79 ended wave (1) as a 5 waves impulse. The pullback to 17.24 in the metal ended wave (2) with the internal as a double zigzag. Down from 17.79, wave W ended at 17.27, wave X bounce ended at 17.64, and wave Y ended at 17.24. The metal has broken above wave (1) and resumed higher within wave (3). Up from 17.24, wave ((i)) ended at 17.48, wave ((ii)) pullback ended at 17.31, wave ((iii)) ended at 17.8, and wave ((iv)) ended at 17.80, above from there it ended wave ((v)) of 1 at 18. Expect the metal to pullback in wave 2 of (3) in 3, 7, or 11 swing before the rally resumes. We don’t like selling Silver. As far as pivot at 17.24 low stays intact in the dips, expect the metal to extend higher.
COMEX:SI1!Long
by Elliottwave-Forecast