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Silvershort

Silver on turning pointSilver has reached an important resistance: the long term falling trend line! This line is coming from 2011. A fight between bulls and bears is to be expected at this zone. If the bears win the price will fall on to the lower limit of the trend channel (14.14$) - where we find also support from a swing trend line. Below that level the price finds another support on 13.91$ (fib retracement Zero and lower limit of the parallel trend channel). RSI stays in bullish zone and is signalling strength; meanwhile MACD seems to give a new bearish sign. It would be not too surprising if the bears make it this time. But in longer term I expect the price to cross the resistance and to reach the circle. The difference between investing now or investing at prices around 14$ isn´t very much. Some 8% to 12% or so. This is no trading advice!!
TVC:SILVERShort
by Luettis
Most analyst don't even understand the Gold and Silver marketToday's analysis, we would like to cover consequential fundamentals and technicals which can affect gold and silver prices in both short-term and long-term let's start the update with gold prices-At the time of writing this report gold prices are down and trading at around $1223 and silver prices are sharply lower trading at $14.28 which implies that our short-term position is going quite well in white metal while gold prices are hovering around our entry price- most important fundamentals -Reports suggest that due to cybersecurity risks U.S is thinking to take some harsh action for a Chinese technology firm and may even suspend this firm for future trades which implies that The U.S- China trade war has no improvement-(Many investors and portfolio managers was looking into this matter especially gold-bulls as improvement in the U.S-China trade war would have a major impact(Bullish) for precious metals sector.U.S. President Trump and Chinese President Xi are scheduled to meet face-to-face in Argentina next week -we need to see the fed cutting or pausing the interest rates hike which will ultimately drive the precious metals prices higher but as we already know fed rate hike seems not to stop very soon-Markets are expecting fed to raise rates in December and two another rates hikes next year, however, this expectation has been cut in half as previously market expectation was four rate hikes in the next year,Negative sentiment can also be seen in futures markets as bearish speculative positioning continues to dominate the precious metals -Manufacturing PMI released today in U.S which will not cause any strong impact as data is very light whereas crude oil prices hit 13 month low of $51.71-The U.S dollar index was higher today and it seems there is much more room for USDX to move upward from this point however Asian equities were down for the day as you know Japan markets were shut down for a public holiday-however the most important thing to note is that downfall which we witnessed in U.S Stock indexes wipes out all this year gains and that's a big deal- -Italy said it would not accept the pressure receiving from Brussels to review its big-spending budget, however EU countries are trying to make a poll regarding Italy budget and this poll will decide whether EU authorities will punish Italy with fines or not- Technicals-we believes buyers should be very cautious at this point as we believe 1200 level will be easily broken and there is not much support until 1180. Gold -0.37% 0.17% 0.69% likely will not be able to support around its psychological level if the U.S Dollar keeps rising and there are numerous factors which are suggesting the future dollar strenth-The declined started in Asia-pacific trade after it went below the 100 days moving average at last week overall it seems that our long-term position in gold -0.37% 0.17% 0.69% and silver -0.35% 0.49% 0.57% will be highly profitable in coming weeks-we are very bearish for the precious metal sector and we think the downfall has just been started. stay intact in our long-term positions as we do believe profits are likely to much higher soon) Please, note-We do believe the major turning point in gold -0.37% and silver -0.35% is about to come in coming months but before that happens it's crucial to understand that the precious metals sector hasn't made their bottom yet, there is enough room for prices to go lower before we witness a substantial rally in gold -0.37% and silver -0.35% prices. our previous comment The midterm election has been already ended which resulted in the Democrats now controlling the house of representative, at least they got the needed majority so now they would be able to control the House of representatives, but what about gold -0.37% -1.22% and silver? let's come to the point following the election the dow jones broke 26000 point, The S&P -0.13% -0.95% had made a quite good rally while the NASDAQ was the best performer among made a net gain of about 163-167 points(approx). The US DOLLAR 0.48% 0.27% had also made significant upward rally since the election has ended sitting over 96.50. The entire precious metals market is benefiting from dollar strength today but it's still holding onto respectable levels our technical analysis suggests that the gold -0.37% -1.22% has its weak support at 1221.70 where the 100-day moving average stands and $1218 which is the 0.618% retracement-however we believe these levels are very weak and once gold -0.37% -1.22% will break below these level a free fall in gold -0.37% -1.22% and silver -0.35% 0.49% will follow- Gold -0.37% -1.22% price settles below the EMA50, to keep the bearish trend suggested on the intraday basis, waiting to visit 1208.40 level as our short-term next main target
FX:XAUUSDShort
by GoldSilverAnalyst
7
LET'S MAKE IT VERY SIMPLESometimes it feels like this consolidation period in gold and silver is not going to over for months but trust me we have seen this kind of range bound movement in precious metal sector numerous times and then we witness an explosive breakout or breakdown in both of the precious metals? but there is no denying that we are in the middle of the boring times but we are expecting it to end very soon but the question is will this time we'll see an explosive breakout or breakdown in PMs? However, Every analyst have their own idea about the same market while most of the analyst are either neutral or significantly bullish for the current market condition in precious metals sector but for us market is saying only one thing- Don’t get tricked by a false move we witnessed gold to drop below $1214 level on Oct 31 which we believe was caused by the fund selling to take some profits for client statement purposes to recover some losses in the stock market- Gold price tested 1227.00 level without managing to break it, waiting to surpass this level to reinforce the expectations of continuing the decline towards our main waited target at 1208.40, to keep our bearish trend scenario valid for today USDX has also formed inverse head and shoulder pattern about which we informed you already-The breakout is already confirmed by numbers of daily closing candles and there are numerous sign pinpointing to the upcoming US dollar rally which is negatively correlated to the PMs sector but what's interesting is even the good economic numbers on Friday which helped to strengthen the dollar, didn't push gold and silver prices above,The market is likely to quiet ahead of the U.S midterm election and people are waiting to see how it's going to play out after tomorrow however opinion polls show strong chances that the democratic may win this midterm election by which we can expect a pressure in dollar and a slight move higher PM sector However we believe once this matter of election between Democrats and Republican will over this inverse correlation be back to normal which will help drive gold and silver prices to fall in a significant manner- patience will reward us please note- Hedge funds and money managers raised their net short position in gold to a three-week high in the week ended Oct. 30, according to U.S. Commodity Futures Trading Commission data.
FX:XAUUSDShort
by GoldSilverAnalyst
Silver (XAG/USD) entry a Short Signal1. Long- term trend on D1/W1 bearish 2. Price came to Key level $14.39, bounced from it so many times and made a fake broke. 3. Potential profit in 4 times bigger than risk. 4. The price is moving to key buy level $13.66. Near that level we can look for a Long only. Sell at: $14.30 S/L: $14.46 T/P: $13.76 C.C.L. — Candle created level C.A.P. — Candle Approved level F.B. — Fake broke P.S. Push like and send to your friend if you like it.
TVC:SILVERShort
by Yuriy_Bishko
12
Part 8 - Risk-off August - XAG/USD DailyXAG/USD – Daily Resistance & Support: Resistance: 15.70 / 16.00 / 16.75 / 17.75 / 19.00 / 20.00 / 21.00 / 22.00 Support: 15.00 / 14.75 / 14.35 XAG/USD – Summary: Expected to commence a Bullish Corrective Structure in a three-swings sequence at or around the 15.00 Levels and possibly retest the 16.00 – 16.75 vibration zone. Bearish Impulse expected around the 16.00 – 16.75 vibration zone. If all scenarios would turn out to unfold as expected and Silver would retest the 14.35 levels, then that specific area could be seen by bulls as an opportunity for longs, which could even reach the 21.00 levels in an Impulse.
OANDA:XAGUSD
by Lionheart-EWA
even our short term view on Gold and silver is turning bearishAt the moment of writing this article our full 200% net short position in gold,silver and mining stocks is well justified from the risk and reward perspective,last week we saw that the USD index goes lower while the mining stocks, gold, silver and Japanese all moved visibly higher,The slight reveals we saw in precious metals today where gold moved to approx $1231 appears to be a very bullish sign right?one may argue that was an opportunity to enter long but is it really? we highly doubt it and as we are writing this update gold is trading at around $1225 while it was trading at $1231 where we suggested you enter short in our yesterday alert,we believe that the rally is almost over and even if gold goes a little bit higher in short term it will not make any difference and one shouldn't be concerned with it, Let's take a look at the Japanese yen(as it's currently highly interesting part of USD index) and try to understand why we think gold and silver is about to go much lower at least from both long and medium-term perspective. The Japanese yen-In our previous post we wrote-The Japanese yen has recently broke it's long-term support line and right now it's trying to verify the breakdown, from a shorter point yen, could move higher but from medium and long-term perspective currency is about to plunge and there are good reasons which support our point of view, from the past few years we witnessed sharp declines in Japanese yen without any meaningful upswing. In previous post we argue that we might see a short-term reversal where Japanese yen will make some correction based on apex triangle and that it's not going to make any difference,this is exactly what we witnessed,The Japanese yen moved higher but upswing and rally was stopped by the rising long-term support/resistance line. from our perspective, the rally in Japanese yen is almost over or very near to being over, This means that the implications for the precious metals(gold, silver) is very bearish as before but the short term implications are even more bearish than they were before. Gold-The yen moved higher and it's definitely a bullish factor for gold but gold wasn't even able to use this bullish factor and soared in a similar fashion, it barely moved $8 higher less than half of what it could it easily gained by the action in the Japanese yen, miners and gold should have soared if this was the beginning of major rally. Long story short, the implications of the gold’s chart are very bearish. Weakness in mining stocks-we saw that miners moved higher on Friday but volume was very slow. That another bearish sign but not that important. The more significant bearish sign is that like gold miners were also not able to recover Thursday's decline, in last two trading day we saw that miners are down while gold is up, That's a classic bearish sign not bullish Silver invalidated the breakdown-yes it's very true that silver invalidated the breakdown and was unable to go below 2017 also but at the same time the breakdown is confirmed below the December 2016 and 2017 bottoms, silver bullish sign-The USD index declined with a force and thus it was obvious that silver was about to go higher and that's what happened but the rally was rather weak also accompanied with slow volume, overall our outlook for silver remains to be same The conclusion-our outlook for the precious metals is extremely bearish for the long term and for short term our 200% of the extra short position which we opened in gold, silver and mining stocks a few days ago is well justified from the risk and reward perspective,it'a very likely that the profit on the sell position that we opened some days ago will increase significantly before we will exit this trade,more importantly there are some signs which are pointing for the strong short-term decline in gold, silver and mining stocks,we will keep you informed anyway many regards-Neeraj Pandey
FX_IDC:XAUUSDShort
by NeerajPandey
1
Silver critical point - will show future direction early MondayI have 3 main scenarios and the good news is that they will reveal themselves very early next week. Scenario 1. The current correction is an abc, in which wave c has already extended slightly over 1:1 (Pt. 2). This would point to the price facing very strong resistance at its current level and failing to break higher. If price fails to break above $15.55 and also travels below the green box, this would strongly support the view that we are about to start wave (5) down to the mid $14s (or more). Scenario 2. The abc as I have tentatively named it, is in fact wave 1, 2, and 3 of a 5 wave move up. If this is the case, then we will also know very soon. If the price breaks above the double top formed on late friday and continues higher, this view will become more plausible - and Pt 1 a plausible short-term target. If the retracement that follows also fails to travel below the green box (Pt. 3) then this view will be futher supported (I know the wave 1 (if it is wave 1) top should not be breached by wave 4, however, in highly leveraged markets this can be accepted). Scenario 3. This would be that we have seen waves 1, 2, and 3 of wave (A) up of a larger ABC correction that should reach up to and possibly beyond towards the lower trend-line (but not above $16.20 (the wave (1) extreme before forming wave (5) down. I was stopped out for a small loss (my stop was too close) shorting the 1:1 wave 1 / a extension. But I will look to take a larger position shortly after the markets open again Monday - and I suspect that position will be a short one, however, I will wait for a wave 1 down to form first. If we continue down to break below $15.347 and the swing low at $15.185 I will add to my short targeting $14.60 for a 1.618 fix extension fo wave (1). Thanks for reading my post. Good luck everyone.
COMEX:SI1!Short
by flyinkiwi10
1