SLV trade ideas
SLV is presenting a buying opportunityTechnically while I am long SLV in the big picture I think there may a little but of downside left to complete a healthy retracement. The tool I've used here depends on identifying divergence (in this case MFI but RSI is fine as well), you then measure the duration of that divergence, and lastly project it (duration) off the price low (as this is bearish divergence) within the period the divergence was identified. The notion is that this is the average time it will take for that low to be tested. What this means is that we *may* see a low in SLV on 8/14 and the general price range I'm looking for is 21.4 - 20.84 (prior low and pivot point) with a .618 retracement of the massive rally falling in that range. If the .618 retracement doesn't hold I will then look at the .5 mark visible on the graph. Please ask if you have any questions.
SLV support levels - OpportunitySLV currently sitting at strong support from 2011, 2012, 2013, with a big gap down to next major support level at $23-ish.
As long as Fed keeps promising to print money and dollar continues to look weak in the long term, I am loading up here. This pullback is very bullish and much needed, shaking out the weaker players.
SLV This WeekBreaking down some of the intraday patterns here in SLV. RSI well overbought based on historical numbers. We also have a GAP to fill as seen in the previous burst. The $25.25 target also lines up with a 50% Fibonacci retracement point. Disclosure, I'm short SLV for this week.
SLV Bull Season - USD is WEAKThis chart illustrates the classic principle of "store-of-value". As the Fed has initiated unprecedented QE, the strength of the dollar has inevitably plummeted, inflating the value of precious metals and other stores of value. Now is a critical moment for this chart, as we can clearly see the dollar in a descending channel, with SLV (and GLD) rising steadily. If the government can manage to bounce the dollar, SLV will tumble, but I think we can anticipate steady growth over the next two months.
SLV buy SL 10.3i use renko and fibs on daily chart and get signals ~ 10 times per year and my long term prognosis that it will go up. Use SL and trailing stop with distance to SL.
SLV DIP BUY OPP / LONG HOLD /The historic Gold to Silver ratio is 47:1
with Silver at $29/oz that puts the ratio at 71:1 (55% undervalued)
At the current levels of Gold, Silver should be $45 per ounce
Add on all dips. Next dip buy 24.5-25
Crazy good store of value that has massive upside.
-k
$SLV IShares Silver Resistance Points To considerThe move is hard to explain and is getting into the parabolic/fomo phase, strong historical resistance is now in play so be careful.
SLV - Last TimeLast time silver moved like this was in 2010. While one can look for 30, like last time, before any pullback, One has to just sit back and let this puppy run. Everything else is at the highs, why not silver?
SLV gap filled today. Resistance levels to followWe are at 25.05 close today, just shy of yesterdays close. After gap fill we had minor pullback and return to near hod indicating bears could not follow through.
Now just need confirmed breakout above $25.17 before next res level of 27.75
Then the following res leveled to ATH
28.83 / 30 / 31.40 / 32.55 / 34 / 36 / 38.20 / 42 / 48.35 ATH
(some of the res levels are stronger than others, a couple are fairly major. )
SLV LevelsSLV Levels: SLV is breaking ATM anchored VWAP.
This is not financial advice. Just sharing my levels.
The Precious Metals Rally Continues - LOAD THE BOATSLV, /GC and other precious metals are rallying hard while DXY continues to sink off of the back of central bank easing. No Reason at this point not to join the party. There were a few people at the beginning of this predicting a new precious metals super cycle, and while I'm not sure something to that degree will happen (Look at /GC around 1998-2006), I think we still have a TON of room to move from here, especially looking at the commitment of traders reports. This train doesn't have any reason to stop moving.
SILVER IS SOARING - SLVSLV has been on a tear since the March lows, rallying over 80% and it's still going. Eventually we'll see a breather as volume begins to decrease and bulls take some profits, but at the moment the bullish trend is still going strong. If you're looking to play this one, I would wait for any dips you can get, buy in, tight stop loss (around 2%), and let it ride. Secure profits as you can and don't get greedy. Remember the trend is your friend until proven otherwise.
Give us a follow and shoot us a Like for more analysis updates. Cheers!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.
SLV - $25.13 in play!SLV is now trading in the gap breakdown area from April 11/12 of 2013. I have $25.13 as a target from which a long needed break should occur. SLV, GLD and miners having a monster day.
OPENING: SLV SEPTEMBER 18TH 19.5/30.5 SHORT STRANGLE... for a 1.08/contract credit.
Notes: High rank/implied at 57/71. Selling the 19's ... . Will look to take profit at 50% max, manage on side approaching worthless or break even test.
Silver jumps and then it will dump before it jumps againSilver jumps and then it will dump before it jumps again.
Look at the Gaps at 20 and 19 those will be filled we moved to far to fast and the Algorithms will fall back to those prices. A cat must crouch be fore it jumps and silver must do the same.
We should see silver at an all time high this year so get in before we hit $47 back in 2011.
