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Global X Silver Miners ETF

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SIL trade ideas

Are Silver Miners Poised to Outperform Gold Miners?Introduction: At the start of 2024, we were strong advocates for precious metals, and this strategy is paying off. Gold is consistently reaching new all-time highs, while silver is surging to levels not seen in over twelve years, finally capturing public attention. However, during a genuine bull run in precious metals, it's crucial to watch for mining stocks to outperform the spot prices of the metals. The lesser-known secret among gold enthusiasts is that investing in mining stocks often yields higher returns than holding physical metals. Analysis: Spot Prices vs. Mining Stocks: While gold and silver spot prices are making impressive gains, the true potential lies in mining stocks. Historically, mining stocks outperform physical metals during strong bull runs because of their leveraged exposure to rising metal prices. Silver Outperformance: We focus on the potential for silver to outperform gold, especially as silver has been gaining momentum. In this context, it's key to monitor the performance of silver miners (SIL) compared to gold miners (GDX). Broadening Wedge Pattern: Currently, the ratio between SIL and GDX is forming a broadening wedge pattern. A breakout from this pattern could signal a surge in silver mining stocks, indicating a shift where silver miners may start to outshine their gold counterparts. Conclusion: As precious metals continue their strong performance, the focus shifts to mining stocks, where the potential for higher returns lies. A breakout in the SIL-to-GDX ratio could mark the beginning of a new phase, with silver miners taking the lead. Traders and investors should keep a close eye on this ratio as a key indicator of the next big move in the precious metals sector. What are your thoughts on this potential shift? Share your insights below! Charts: (Include relevant charts showing the SIL-to-GDX ratio, the broadening wedge pattern, and potential breakout targets) Tags: #Gold #Silver #MiningStocks #PreciousMetals #SIL #GDX #TechnicalAnalysis
AMEX:SIL
by Richtv_official
Silver miners looking bullishThis monthly chart of the Golbal X Silver Miners looks bullish. After a decade of pullback and consolidations, silver miners seem ready to rise. We like the recent increase in volume and the bullish structure on the MACD. A break above $39 would exit the downtrend line linking the tops and would confirm the exit of this long wedge. Next resistances at $53then $94. A break below $22.50 would invalidate this view. -------------- In the context of gold and copper making new all time highs , the devaluation of currencies by countries around the world, starting with the US, and the increasing needs of silver for industrial production of alternative energies solutions, we think that silver and silver miners are due for a catch-up.
AMEX:SILLong
by waverity
The Silver MinersThere are various tickers you can look at, all of them look to be at or close to support with steep hidden bullish divergence. Individual stocks would include - FSM, AG PAAS, EXK among them. This is the ETF for Silver miners. Slightly lower is possible, but I think the metals and miners will probably get a bid within a few weeks if not sooner. This would be a large move, but when we look at the historical chart for this etf, we are still near the very lows. Good luck!
AMEX:SILLong
by the_sunship
$SIL Silver Miner ETF to $40 by mid FebruaryThe biggest trade I've made in over a year. 40% of trading account. Gold is close to breaking out to new highs and when that happens silver moves even more violently to the upside. The most leverage without using actual leverage or derivatives is by buying stocks of companies that mine silver. A good ETF that holds them is SIL. I think SLV is gonna go to 26 fast, as soon as it blows through 22.5 and if that happens target is 40 for SIL. Stop on the trade is a daily close under $170 for GLD.
AMEX:SILLong
by inanis_
silver bellsSilver stuck in a massive bull pennant, but I think it'll finally wake up this summer and rip out of that flag. The 1S chart shows it failed at resistance today, but there's really good historical support @ ~$38.75, so if it retests there, room to stage a massive rally, 36% by end of summer (just to retest its highs, possibly higher). Solid dividend, I'm buying shares and call options, puts when the MACD tops, and probably ahead of the curve because we're in a perpetual rolling correction these days, a ton of liquidity & chasing occurring, this thing will get volatile & turn on a dime the minute some knucklehead does a 10 minute powerpoint about it on national television.
AMEX:SILLong
by QUANDRANTS
Miners Exaggerate, Metal Doesn'tMiners are supposed to be more volatile than the metal. Today's (2/1/2021) pre-market movement has the silver price moving more than the miners. That's backwards and a clear sign of a frenzy. Big risk, big reward (or loss). Someone must be influencing the price wildly... oh wait... Everyone, please welcome WallStreetBets to the silver market! I assume the media attention has garnered even more people to the WallStreetBets team. This could be amazing to watch!
AMEX:SIL
by NateVal7
Silver Miners: Current view. Ideas on setting targets.My last post on SIL was on 4/29/20 and the target I gave at this time turned out to be accurate. ( see link below). Current view. I am still intermediate term bullish but from the daily chart you can see we are in a short term down trend. It could start up now at the midline of the daily channel, OR it could move down to close the gap, OR it could move down to retest the long term down channel line. I believe there is a good chance one of these levels will hold. Supporting this idea is that we have a positive reversal followed by a bullish divergence in the daily RSI. When this RSI pattern develops it often (but like all patterns --not always) is followed by price rising to a new high in that time frame. If you are not long already then wait for the short term downtrend line to be taken out. Target ideas: When you get a symmetrical reversal pattern with horizontal top or bottom such as cup with handle or the inverse, or H&S or inverse head and shoulder , or a "M" or 'W" you look for a breakup that holds above the top or bottom. Then often there is a Fibonacci relation to the eventual target. I used that approach on the daily chart for the target I suggested on 4/29/20. I used that approach on the weekly chart to get the current potential target if price breaks up above the weekly cup or W pattern top. This gives potential target of 71-86. Another way is using the RIS bullish or bearish reversals. Remember the RSI is based on the closing value. On the daily chart I determined the price difference from the close around 3/20/20 to close around 9/23. For me I just draw a box then clone it. That distance is then added to the close where the RSI was its highest (around 7/28) which gives a target of around 75. If you are not familiar with RSI patterns see: www.tradingview.com
AMEX:SILLong
by goodguy
1