SLV
Bullish Gold?
Not really - Gold would have to breakout over $1900
Last week we touched 1847 - which held, and then price dropped to about 1830
Running into a trendline which was on my chart - this trendline held. See chart at bottom.
Firstly all the shorts lined up at 1845-ish got beat today. As price worked up to the next Fib level - exactly.
I realize that many will see this as bullish as Gold went up while the markets were selling off - to my mind it was just a stop run.
Still believe we'll head lower but right with Fed meeting tomorrow - all bets are off. Its possible that they will sweep the book - go higher and then pull the rug.
You'll need expert video game reflexes to stay ahead of the Gold in next day or so.
Rather than play the futures market - I've opted for safer puts in GLD - 169 Feb 18 expiry.
I had closed my previous position for a $10 winner but it did not hit target - but honestly I took it off because of the upcoming Fed Meeting.
SLV - Safe to re-enter the fraySLV weekly chart showing a prominent double bottom with the Sept low and Dec retest holding nicely. With the long term trend line lending support, it appears safe to renter the slippery silver paper waters once again.
SLV will likely try to play catch-up to COPX (also shown) which has gained +20% since Dec 20th. I doubt SLV will post those high % gains but a 10% pop seems highly doable by months end or early Feb.
Weekly RSI and Stoch are trending upwards with plenty room to run from here. In the shorter time frames (4 hour chart - not shown) the RSI and Stoch appear over-bought on SLV and with 4 up days in row including a gap up today - will look for an entry price on a modest pull back/gap fill into Friday of this week.
Max pain sitting at $21 this Friday
maximum-pain.com
Not financial advice.
Bullish on the iShares Silver. SLV Indeed. WXY on the greater B there, then pivot, now a probable B. No definites in analyzing any market. Ever.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in green with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
SILVER SHORT OPPORTUNITYHello everybody!
We have nice setup on silver shorts :)
Targets are on the chart.
Take care!
Golds decision is here Gold will most likely rally to the 1855-1860 area before having a significant pullback. That area marks the major trendline that has marked the tops of this consolidation that has lasted close to 18 months. The bullish case would be marked by a touch of the trendline , a correction, then a decisive break and rally. The length of the consolidation will lead to a significant move that would target the all time highs and possibly much higher. A fail at the trend line will send gold plummeting to my lower support levels at 1669 then 1551. The next few weeks will be interesting! Safe trading.
Silver: A long road ahead!We have come so far already, but there is much more to do! In our primary scenario, we expect the course to further drop and fall under the support at $21.41. After reaching these levels, the final stage of falling below $20 can be tackled. A temporary countermovement has a probability of 25% and can only be realized with an increase over $25.88.
Keep waiting!
Silver (XAGUSD) - Support, Resistance, Trendlines - 2021 - DaySilver (XAGUSD) - 2021 Support Resistance, Trendlines (Daily Chart):
-Resistance Price Levels (colored horizontal lines above current price)
-Support Price Levels (colored horizontal lines below current price)
-Trendline Resistances (diagonal yellow lines above current price)
-Trendline Supports (diagonal yellow lines below current price)
note: chart is on log scale.
Silver - is it farily priced?Comparing Silver to the USD, it is still holding up pretty well.
Compared to real yields, silver should be about 24% higher.
will keep an eye on itBuy at trend line. Long term ascending triangle that will retest 12$. Has to hold otherwise 7$ is the next target.
Silver's next big target is $75 dollarsHi traders,
Silver is gaining momentum and is going to reach $75 quite soon. Weekly & daily technicals look good.
*Based on fractal, price should reach $75 before massive profit taking kicks in.
That's the idea :) This is not a financial advice
SILVER READY FOR MAJOR BREAK-OUT HIGHERHello,
Last time I posted bearish scenario for silver but as weekly candle did not close below important weekly levels, I reverse my bias and now lean towards bullish price action on silver.
This system I use with fractals works out well for me and gives quite decent price targets for the future.
Do with it whatever you see fit. Dollar is on major break-down point, inflation is rising rapidly.
Expecting silver and gold to break higher :)
This is not a financial advice, stay safe!
SLV watch for long I'm watching for Silver to put in a green bar below the bottom Bollinger, for the RSI to fall below 30, and for the Blue line to cross the Red one on the MACD.. then I'm buying call options at the 23 Strike 2 months out.
𝗚𝗼𝗹𝗱 𝗨𝗽𝗱𝗮𝘁𝗲: $GC_F Daily. Breakout ... Backtest?After a long period of consolidation has broken out. Should run to at least ~1960. Potential for a pullback to backest before doing so
$GLD $GDX $GDXJ $SLV $SI_F $DXY $TNX $TLT
First Majestic: Happy! 🥰🥰🥰It is increasingly looking good for the First Majestic stock, as the price is further moving away from its support at $12.56. Below that mark, we would experience a decline under $10. However, we trust the bulls here to make significant advances and push the price above $33.
Silver is the new gold!
Silver-Copper Ratio breaking outThe breakout of the Silver Copper Ratio suggests Precious Metals outperforming Base Metals over the coming weeks
Silver Looking StrongSilver is looking strong, we have had a breakout of the downward trend line as well as a nice retest. Currently looks to be forming an inverse head and shoulders pattern. Needs to break above the neckline around 24.80. If it is able to break above we could easily reach a target of 28.00 - 28.50.
Thank you for viewing my post!
XAGUSD SILVER SUPPLY AND DEMAND Trade Idea/AnalysisTrading the supply and demand methodology. We have price inside daily RBR demand that broke downward trend line and we have price reacting off of daily RBR demand. I went down to a LTF (lower timeframe) and notice evidence of buyers stepping in. Quality DBR demand that broke downward trend line and removed supply.....Thoughts?
Silver has a decision to make Silver looks to be in the midst of a pullback. Wensdays FOMC meeting and fridays non farm payroll numbers will be crucial to the markets movement next week. If the fed sounds very hawkish, the pullback will likely go a little deeper for silver, possibly to the $22.60-$23 level. In the case where the fed comes off dovish or metals react positively, I see silver quickly rising to the $25.5-$26 level. The 200 daily moving average sits at $25.50, a test of the 200DMA at this point would be expected. The majority of silvers range between August last year and this years August was between $26-$27.7. The $26 level used to be support , now it serves as a resistance.
Bearish divergences are building in Silver Silver has had a powerful move as of recently. I believe that it is coming into some strong resistance at the $25 mark, along side some weaking momentum on the smaller time frames. Silver gave back a great portion of its rally on friday after backtesting the rising wedge it broke down from the previous day. The 4hr chart exhibits some bearish divergences that are building in the Rsi and MACD. The divergences, coupled with consistent seasonality sell offs in November (last 9 years) , have me targeting the $22.50-$23 area in November. I believe that would be a great buy , subsequently coming into a strong month and quarter for metals, December and q1 2022.
This being said, silver can still muster up a move to $25 and even slighlty higher. Proceed with caution!
Dollar DemoninatedDollar bears think time is running out for the recent strength. This is how to trade it if it does.
The 200 week EMA above will surely be a barrier if it even gets there. The signal worth waiting for is a clean trend break where the likelihood revisiting the lows increases.
Oil is a great way to play this. Eventually, price should find it's way to $90ish regardless and if the dollar plummets, especially to fresh lows, $90+ is a near certainty.
Silver has certainly been a pain lately, however, it offers titanic rewards if you steer clear of danger. If the dollar sinks we can be sure silver will be a memorable trade.
If the dollar bears are wrong, the titanic will be the 2nd biggest tragedy to Oil and Metal bulls.
