SLV
SLV - BOOYAH !The chart speaks for itself. I'm glad I went long when I did. The rise of Gold, Silver, and yes Bitcoin, is a sign of a failing fiat currency system. Think about it.
(My Previous SLV post)
Silver Next Major Move Silver at the end of correction period
Next major move : post 2021
Minimal chance to go over $15.60 from now till December 2020
Minimal chance to go lower than $13.50 from now till December 2020
SLV - Silver double bottom and the falling wedgeIs anybody into precious metals? I am. I have been for years. I just put on some SLV today. The double bottom on the weekly and the falling wedge looks like it's time to go long. Normally I may not even bother because it has been such a slow mover for quite some time but as the stock markets continue to deteriorate and crypto continues to climb I think it is time to take shelter. I have zero in the stock market and have only taken defensive positions with SPXS, SLV, Bitcoin, Cash, etc. When the fecal matter hits the rotary device next month and beyond I don't want to be standing in front of that fan.
Good luck everybody!
Silver - Running out of SteamLooking at the daily chart for Silver, we can see a solid push from the $13.11 range in November to over $15 in February. However, since hitting strong overhead resistance this run appears to be losing steam. The ADX which measures the strength of the trend appears to have double topped. The MACD is showing bearish divergence as well. There is still a chance for the price to rebound off support and retest the purple trend, but I am biased to the downside for now.
Silver at Nice Support with Bullish DivergenceConservative play is wait for a bounce or aggressive is to buy here at this strong level of support.
watching for silver break outconsolidating well. watching for price break out of the wedge. two entry options with 16 target $SILJ $SHNY $GLD
SLV NEEDS TO MOVE COMING WEEKS
Two important trend lines intersecting, expecting some large volatility in coming weeks
SILVER - long term 2040SILVER is struggling to hold $14. In case we break down, we could see a bottom between $8.1 and $9.3. Long term play, shows the benefit of averaging down bit by bit.
13.50 Was A Huge Support For SilverAn over 78% retracement from the highs of 2011 stopping right at the fib level. Entering into a long term cup and handle formation in this 8 year bear market in the metal. Very bullish in the years to come.
GOLD: Near term top in place, target $1,240With high conviction, I believe that Gold has more downside from here.
Gold - Bullish Indicators and Cup N HandleGood evening traders,
While I don't hold gold, I hold alot of silver. Due to the correlation, lately, you can practically trade silver using a gold chart.
I wanted to point out a few positive things gold has going for it currently.
1) We can see we have a cup and handle forming on the daily, now granted, the length of the handle is not well developed, and we could certainly see further downside to complete the handle.
2) RSI has crossed its average EMA, this is bullish.
3) Slowstoch is currently mid re-trace to the upper bounds.
4) MACD is currently crossing bullishly on the daily.
5) VFI is threatening to bullishly cross.
With all the market uncertainty, and what should end up being a red week for equities, we can expect a couple of things coming up for gold.
Firstly, as investors flee equities, the dollar index will most likely strengthen, this could be a catalyst to further breakdown past the value area between 1280-1286 (the corresponding .618 and .65 of the bearish structure).
Conversely, if investors seek risk off assets and diversify into gold, it could be just what the metal needs to break out.
Another item of importance is the head and shoulders that is forming on the daily and we must observe closely over the coming days.
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Update GOLD: Im not interested unless we can reach $1,260 Ideally, a 1 to 1 ratio with wave A & C would be needed at the very least in order for me to get involved!
Update: Silver might trade sideways to down...My conviction is strong that precious metals are only beginning their rallies higher, however, we might need to base out first.
Golds main driver, real yields are set to CRASH!!!Real yields are the main driver of precious metals. Currently, the Fed is transitioning to a dovish stance while inflation is expected to remain above 2% over the coming 6 months, this is extremely positive for Gold.
Update Gold: Bear flag broke, target $1,240 We are completing the corrective Wave C to complete a triangle for Wave B. Upside target from there is $1,542.
$jnug $nugt $dust $gdxj Gold miners threaten Breakout$jnug $nugt $dust $gdxj Gold miners threaten Breakout
New Gold Sell Signal Could Trigger Any Day!New Gold Sell Signal Could Trigger Any Day with a break of support trendline and trigger bear flag.
