SLV & GLD performance in the 2008 Financial Crisis Do advice. Am a novice with no charting experience. This chart is only used for looking at performance in 2008
SLV trade ideas
big gap at 25 on silverAg needs to break through 21 and then fill the gap otherwise it will just stay in same old trading channel. may back down to 10 or 12
SLV and other random thoughtsLooks like a little higher yet for SLV. Here are my humble (and often wrong) thoughts on what might occur in markets for the next month. assetdesigncenter.blogspot.com Feel free to comment here or on my blog. Thanks. Have a nice weekend. Stay safe.
SLV - Plata BullishAsí veo la plata. Continuando al alza. (Ojalá :p) /That’s the way I see Silver (slv)..
SLV long term bullishTrade #5 of this month
Support level at $15.2 and next target $17 and $19.2. Yes it got a bit overbought lately but similar to gold, silver is gonna survive and it already up 50% in just 2 months.
SLV - is the bear market over?Not yet! But a decisive break of the long-term overhead resistance (orange line), which dates back to the start of the bear market in 2012, and a pause at 17.45 impulse FIB and overhead resistance (redline) before it does break thru would be very constructive. By then SLV should be sufficiently overbought and enter a period of consolidation that may not give up much price action. Silver miners still fighting and leading the way.
Gold is running ahead of Silver and that means, silver has to play catch up.
Both gold and silver have nicely broken out of the wedge/triangle pattern and are slated to go higher.
You can see from Chart that Gold has gone up way ahead of Silver , leaving a wide margin for Silver to play catch up. At current price, I think it is still cheap and it has a good long term bullish chance to rise higher.
SILVER: potential bearish ABCD pattern. Retrace almost DONE!SILVER: potential bearish ABCD pattern. Retrace almost DONE!
Define stops according to your risk profile.
SLV - Second Guiding View for Next WeekThe 40-period moving average is one that I often refer to for longer term guidance. Looking at how SLV has reacted to the 40-week moving average over time gives some additional input as to how I will position myself next week. Not sure if the strong buying momentum will continue into next week's opening or if option expiration activity was a key factor. If anyone out there watches the expiring option open interest levels to make price predictions, please chime in.
Seems like in most cases, price has shot through the 40-week average but has then served as a magnet to pull prices back down to either ride this average or break away. So using this, along with a previous shorter-term channel view in the last post, I'm thinking of selling some May 22 $16 puts, especially if we open a bit weaker. Seems that price can run perhaps up to 17 - 18 over the next few weeks and still be in a B move of a corrective phase with another move down later. I've seen some projections of prices breaking under $10. I'm targeting 12.5 or thereabouts but must say that my calls haven't been so spot on recently.
My Excel data on the daily basis shows strong upside momentum in all the cycle indicators so I want to sell puts to continue taking in premium on the weekly basis. First was thinking that the 15.5 level is where the 40-week average comes in and that would be a seemingly easy short put position. But seeing how price generally overshoots that line on it's first attempt through makes me think that the $16 put is worth the risk. If I'm dead wrong on this, I sold June 19 $12 calls yesterday so I would only be moderating any profits I would accrue on the downside.
For the bullish side, I have lots of Jan 21 LEAP spreads ranging from $16 to $20 offset by $25 calls, some outright Jan 22 calls and the physicals. Those positions don't get touched as I'm long term bullish. The long term goal is a Mike Maloney prediction, that 1,000 ounces will buy one a nice home when prices reset. I'm shooting for a beach front condo in Mexico! Que Bueno, no?
SLV - Strong Day - Channel FormingSilver easily pushed through expected resistance levels. This channel shows a good 10% move could happen pretty quickly. Still thinking it could be a B wave in a correction with lower prices yet to come. But this chart setup looks positive. While Stochastics are on the overbought side, the BBW indicator is starting to increase showing me that momentum is building.
Keep on stacking . . .
BREAKTHROUGH The iShares Silver Trust (the 'Trust') seeks to reflect generally the performance of the price of silver.Silver exchange-traded funds (ETFs) closely track the price of silver and are generally more liquid than owning the precious metal itself. Like other precious metals, silver ETFs are favored by investors seeking a hedge against inflation or a safe haven in times of market turmoil. Their Stock chart value said to bullish $15.3. Silver now a days potentially in demand This market is just so fantastic.Wanna Know More About Bullish Strategy READ MORE:
SLV - Finally at Golden Pocket FIBHopefully this is the push that finally gets SLV back to where it was pre-virus. Dips being bought and miners giving us some hope. As a long time fave character of mine would say....Giddy up!
Silver reaching overbought areaSilver approaching overbought. May see bottom of the channel at 13.75 some time in the next few days.
SLV - A Little More Upside PossibleLast week I was looking for a test of the 14.80 recent high mark and still am however looking at different views, I see a possible move up to the 20-week moving average based on the following observations.
SLV appears to be in an A-B-C corrective phase with the A wave running from 17.28 down to 11.62 in three obvious waves.
SLV had some trouble on Friday staying around 14.60 and dropped down to 14.44 to close the week. The 50% retracement of the A wave is right here at 14.45. Perhaps not a bad place to sell. But it's possible that the current B wave up structure might run up to the .618 Fibonacci retracement level and that could also be meeting with a declining 20 week moving average.
The wave structure for the current B wave move shows 3 small waves up from the March 16 low to a minor a wave at 14.34 on April 6. Next came 3 small waves down to 13.92 on April 27. Thus far, we have but 1 wave up. If this B wave goes 3-3-3, then we could expect a small drop back and then a final move up to complete the B wave.
An interesting article explained how physical silver could be selling for around $10 premium while paper silver declines. I linked it below.
double top completed...its in correlation with spxi just need a big scare into the dollar...as the dollar rises these will drop
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SLV - Looking for possible topLooking at a weekly view, SLV might test the 14.80 level (and fail as always). Looking for a move down to 12 or lower by the end of June. Long my LEAPS and physicals but have been selling options a week or two out on every little pop. It's been paying off as SLV has been dead lately. Will sell June 19 $11 calls if we get up to 14.80
SLV Long - Look for price to rally quickThe SLV chart has clearly shown a break out. I think we should expect a quick rally in the near term.
