SLV trade ideas
SLV - We Didn't Test HighsNot a sure thing, but I generally look for such signals as a three day, three week or three month tests of highs to signal a sell. With stochastics turning down as well, I took some money off the table in the paper market to raise cash in the even that we do have a decent correction. My appetite for physicals however continues. While the prices may go up and down, paper money is headed for extinction.
SLV and silver continue weekly bullish trendSLV needed to close above the $24.90 higher low of last week today to continue i's bullish trend on the weekly chart. Nothing fancy here, simple upward bullish trend. Yesterday Feds promised inflation which is the ultimate bull signal for precious metals, when considering phys demand remains very high and supply is very low in the US, falling dollar, and China and other countries starting to buy electronics again, all signs point to continued rise with expected small pullbacks due to bank manipulation of the COMEX/ETF.
I suspect silver, SLV and most mining stocks will out perform gold here on out since it is still extremely undervalued. As inflation rises, silver, the poor man's gold will have continued retail interest in physical as well as ETF's
See my other charts for support and resistance levels, Fib levels Fed policies, and other analysis...I have been adding on every pull back and now just hanging on for the the ride up to $50 with $45 Jan calls. Don't miss the boat.
Inflation-hedged assets in the age of QERich people don't hoard the dollar, neither should you. They put all their money into inflation-hedge assets as dollar continues to depreciates.
Put your money into the good use.
SLV updatetwo scenarios I'm looking for. Similar to GLD count. Leaning bearish with finish around ~21.
Sturgeon MoonMost people don't really want the truth .They just want the constant reassurance that what they believe in is the truth
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Silver - Next PlayChecking back in with Silver $SLV. If you saw our previous charts on Silver, both Gold and Silver have been on bullish runs this year. SLV seems to be consolidating at the moment and wouldn't be surprised to see a bullish break on this pennant pushing to the $34 levels.
We'll be keeping a close watch on this one. Looking for confirmation before entering. Good zone would be a breakout and $26.50 buy in with a 2% trailing stop loss.
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$SLV in a symmetrical triangleAnother bullish setup for $SLV. It had a huge runup the last few weeks and I see this consolidation leading to another expansion.
SLV Weekly trend holding bullishDespite some recent, expected volatility, SLV is holding a bullish trend on the weekly. It needs to finish above $24.90 to continue this trend.
Also bullish, it held and bounced well off it's support. See my other charts to see important support levels.
Silver Regular Pattern. SLV XAGUSDPatterns patters, but is it a trend , a predictor or just a market swing?
Perhaps a short squeeze?
Flight to safety?
Perhaps hedges?
TBD!
watch 25.63 for a market move up again!
Silver needs to break 26.32 to run awayStill a trend within the Daily model for a potential up swing again.
SLV Silver Trust UpdateNot much has changed or invalidated count yet. Still projecting to around ~23.75 but was expecting lower in this move based on other moves. Still watching out for a more bearish scenario.
SLV - More upside than downside - Strong supportSilver has been resilient, yet still dropping slightly as the DXY struggles at best to stay afloat trading near .94
Fed continues to print = falling Dxy = rising silver. Still extremely tight phys supply in US will keep silver prices supported and elevated as the price fluctuates due to Dxy
There is strong support for from April 2013 and Aug/Sept 2013 at $23.88, as well as some recent support on the 4 hr at the same level.
4Hr chart shows SLV hitting the 50 SMA right at $23.88(ish), which further affirms strong support at that level.
SILVER RESUME BULLISH TRENDSilver is at the end of the symmetrical triangle. Likely resume bullish trend.
SLV Silver Trust updateStill looking for a bottom in wave C. It seems to be lagging in count behind GLD right now. Also watching out for a setup for deeper correction
SLV short term trendJust discovered SLV is forming a triangle pattern at this resistance level ($25). Something to look for:
Case 1) A good entry point in the next couple days if the price remains in this area
Case 2) Price would be less volatile approaching the end of next week
If 1 and 2 are true, the price likely goes up and tests the previous high (above $27).
P.S. I still own the positions I opened from March and May earlier this year and remain bullish on it. Will keep update on this prediction.
$SLV breaking out of the triangle in a week This triangle formed perfectly on the resistance level and is about to explode soon. Good loading timing would be tomorrow until early next week and likely to see a significant change in a week or so. Play safe but expect to see a break above the previous high!
