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Silvershort

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 EW4X
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
Why Silver Will Outperform Gold 400% The major monetary metal in history is silver, not gold For most of mankind throughout most of history, silver has been the much more important monetary metal, familiar as the metal of daily commerce. Gold was used only for very, very large payments, which most people make only rarely, if ever. Both silver and gold are monetary metals, i.e., they both benefit from monetary demand. (Monetary demand is also called “investment” demand. It is demand for silver as silver, and as an ingredient making something.) Most analysts miss silver’s monetary demand because they focus on silver’s use in industry. Certainly, since silver was politically demonetized beginning in the mid 1870s a vast amount of purely monetary demand disappeared. Today, most silver is used in fabrication, roughly split three ways among silverware and jewellery, photographic, and other industrial uses. But when confidence in central bank issued fiat money begins to fade, when fear strikes investors’ hearts, they run not only to gold, but also to silver. Especially in America.
TVC:SILVER
by TheWolfOfBinance
GOLD IS DEAD?In short our full net short position in gold and silver is well justified from the measurement of risk and reward at the time writing this article/idea As we are seeing from the past couple of days mining stocks,gold and silver have been moving sideways and volatility have been decreased in a significant manner,many inexperienced traders gets confused at this point as they thought no significant price move is going to happen and there is no point to watch this market but reality is exactly opposite low volatility in gold often precedes huge moves in prices and we are attaching the chart below so you see it clearly,what we saw in this market (having experience of more than 6 years) that in most cases implication of low volatility meant that a huge bearish move is about to take place,we are attaching two charts below so you could be able to see that why recent low volatility should be seen as upcoming bearish movement,to watch this we have to see gold stocks to gold ratio and the gold stock to the general stock ratio,https://www.tradingview.com/x/IE2AUB3u/ if you look at both ratios you could clearly see that entire sideways movement in p.m sector is verifying the breakdown in both ratios,on a short term basis you could see the prices not moving if you will try to look at long term picture then you should be ready to see significant decline in prices ok let's quickly jumped into silver,we already have wrote in our previous articles that silver still can made a short term small upswing before it plunges back,we still support our previous idea that either silver can decline immediately or it could move little higher before quick decline continues,we can compare the analogy of late nov 2017 to current situation GOLD-our previous comment on this metal is still up-to date i would like to add few things today and that is comparison of current situation to 1st nov 2017 when gold made its final top and quickly plunges back and made its breakdown below 50 day moving average.well that session was quite interesting,those who followed our instruction made huge profit at that particular session,as we already know volatility has been decreased and gold almost did nothing yesterday,if we compare the situation to gold previous breakdown below 50day moving average the implication seems quite bearish, Adding things up-As we already wrote many times that an small upswing in white and yellow metal is still probable and in white metal that's what we are seeing right now gold miners under performance makes this point even more valid,overall it seems that the big decline is just around the corner we will update you anyway!!!
FX:XAUUSDShort
by NeerajPandey
1
Silver is approaching strong support, watch for a bounceXAGUSD is approaching strong support at 16.35 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) and a strong bounce could occur at this level to push price all the way up to our major resistance level at 16.78 once again. It’s important to note that we can see a short term descending resistance line which needs to be broken to open a bigger move up. Stochastic (34,5,3) is seeing strong support above 4.5% where a corresponding bounce could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDLong
by Tickmill
2
XAGUSD reversing nicely, watch for a further drop!XAGUSD is reversing nicely below major resistance at 16.80 (Fibonacci retracement, horizontal resistance area, Fibonacci extension) and a strong drop could occur from here pushing price down to 16.58 support (Fibonacci retracement, horizontal pullback support). Stochastic (34,5,3) is seeing strong resistance at 92% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
XAGUSD testing resistance, potential for a drop!XAGUSD is testing its resistance at 16.949 (100% Fibonacci extension , 50% Fibonacci retracement , 61.8% Fibonacci retracement , horizontal swing high resistance) and could potentially fall to support area between 16.161 (L T 61.8% Fibonacci extension , 100% Fibonacci extension , swing low support) and 16.025 (61.8% Fibonacci extension , 78.6% Fibonacci retracement ). We have also identified a 2nd resistance at 17.101 (61.8% Fibonacci retracement , 76.4% Fibonacci retracement , horizontal pullback resistance). RSI (55, 5, 3) shows a descending resistance that price is approaching which could lead to a corresponding fall in price.
FX_IDC:XAGUSDShort
by ICmarkets
1
Silver testing major support, potential for a bounce!XAGUSD is testing major support at 16.36 (Fibonacci retracement, horizontal swing low support) and a potential bounce could occur at this level to push price up to 16.71 resistance (Fibonacci retracement, horizontal swing high resistance, Fibonacci extension). Stochastic (34,5,3) is also seeing major support above 4.3% where a corresponding bounce could occur to push price up. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDLong
by Tickmill
Silver starting to break out nicely,watch for strong bullishnessSilver (XAGUSD) has broken out of our long term descending resistance-turned-support line signaling that there’s strong potential bullishness. Our 1st major support is at 16.66 (Fibonacci retracement, horizontal overlap support, breakout level) and a strong rise could occur from here to push price all the way up to 16.92 resistance (Fibonacci retracement, horizontal swing high resistance). RSI (21) has correspondingly broken out of our long term descending resistance-turned-support line signaling that a potential rise is approaching. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDLong
by Tickmill
Silver testing major resistance, potential drop from here!Silver (XAGUSD) is testing major resistance at 16.63 (Fibonacci retracement, horizontal overlap resistance, descending resistance) and a strong reaction could occur at this level to push price down towards 16.38 support (Fibonacci retracement, horizontal swing low support, Fibonacci extension). We can see our long term descending resistance line add a lot of bearish pressure to our idea. RSI (21) sees a long term corresponding descending resistance line hold price down really well too. Only a break above this descending resistance line would be a precursor to a larger recovery in silver. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill