SLV trade ideas
SLV consolidating at this level, posible explosive move upSLV consolidating at this level and waiting for GLD for the next move. SLV did a cool price by consolidating just below 2 trend lines which could be very bullish if break them. However, the issue could be as GLD is way overbought and likely will drop. With a drop-in GLD, it would be hard for SLV not to drop too but in the stock market, everything is possible.
SLV is in that symmetrical triangle for almost 2 years and the breakout of it would be very bullish for price.
Price is close to 20 and 50 days MA which is a sign that the price did cool down and consolidate and could be ready for an explosive move up and break both lines.
RSI is dropping and a possible rising in the price could break those negative divergences and could be bullish and fast.
MACD same as RSI.
Overall: SLV is preparing for an explosive move-up. In the last analyses, it was looking like it will drop but good for the bull's price just consolidate at this level. Do bulls have the power to break it is a question and it could likely depend on the dollar moving up or down. On the other side, a break below the lower trend line and same time 50 days MA would open a place to retest BigRed or 200 days MA.
SLV weekly - at major major resistance, drop imminentlySLV weekly is at major major trendline which was formed and act as resistance in 2011. The possibility of breaking above that line at the moment is not big.
Volume in this whole leg is dropping and dropping which is an indication of a fake up move.
RSI is way overbought.
MACD histogram ticking lower while the MACD line starts to turn and it could soon start to move down and cross the signal line which would making more pressure on the price.
Overall: SLV on the weekly chart is still not ready for a major breakout. The major trend line is 3/3 powerful trendline and is not easy to break. For bulls best option would be to retrace to BigRed 200 MA and consolidate at that level for a week or two and then start a strong and powerful move up.
SLV daily - likely continuation of the dropSLV is at top of the huge symmetrical triangle. A few days ago it break down from a rising wedge which is a bearish pattern. On 23 and 24 it restest trending of that rising wedge, but support became resistance, and SLV got rejected hard. At the moment SLV is making a bear pullback will nice opportunity for a further drop.
Volume is confirming price fall as the last several down days were followed with much bigger volume than during the up leg.
SLV is between major MA which indicates on likely stronger move pretty soon.
RSI still has bearish negative divergences which are bearish.
MACD histogram is ticking lower and it also has negative divergences.
Overall: SLV will likely drop more. The first major support is 50 days MA but real support will be BigRed or 200 days MA. Only a strong move up on strong volume, break above 20 days MA, and trend line would indicate for new leg up. However, RSI and MACD should first cool down to whether more momentum for that, otherwise it would only create even stronger divergence.
Will silver follow copper? $SLVMetals have been performing pretty good, AMEX:DBB is up +21% in the last 6 months and above its 200-day MA
The copper ETF, AMEX:CPER is up +12% in the last month and breaking out from resistance.
Could AMEX:SLV follow up? and after silver could AMEX:IAU ?
I'll wait for the breakout above $22.50 with target at $26.
Short SLVSilver coming up against downward resistance. Looks like a good spot to short here. This goes incorporates well with my tactical bounce in the dollar too.
SLV (1d) - Bear Butterfly Harmonic PatternPrice is pausing in the presence of this inside Bear Butterfly's PRZ. Expect a roll over to or near to target1 as a minimum Type1 reaction. If price has natural harmonic reaction to the .236 retrace and virtually immediately rebounds, expect at very least a retest of the high, but a test up to the HOP would be more likely; setting up a potential divergent top Type1.5 entry. Further grind to the upside beyond the HOP will setup a larger Bear Bat.
Old drawling came trueI havent been trading for awhile since I started a new business. Now that my new business acheved ROI I'm back in the markets and looking at some of my old charts. This one played out perfectly....
Follow my channel to see my new predictions for what's coming next.
SILVER IS ON THE MOVEHigh conviction on silver. Silver's run in 2008-2012 can be explained by QE. I believe silver's next run will be due to its properties.
SLVThis thing wants to bust out like a pimple! TV wants me to write a bunch of crap here in order to post but isnt it true what they say? A picture is worth 1000 words so why do I need to type it out?
ISHARES SILVER TRUSTIt is important to remember that trading in any financial market carries inherent risks, and it is essential to develop a sound trading strategy and properly manage your risk in order to minimize potential losses.
Silver starting to outperform regional banksThe ratio of SLV / KRE is looking bullish, having broken its downtrend line with lots of potential.
$SLV - why would you not TA after this?$SLV backfilled that beautiful gap. But strength like that doesn’t disappear completely. Take profits and check for new entry. 2023 will be a commodity boom I expect. I don’t want it at all as it will screw over everyone in America which is what RC wants. Going to be rough. Make this money now. Future is not looking good. Wonder if this is partly to get trump back in office? Yikes
SLV attempting to break trend resistance ! 🥶big bullish impulse to 25-28-30+ is expecting if we can get monthly candle close over this trend resistance!
lovely bounce from SMA's/RSI recently as well, drop boost and follow if you enjoyed <3 thanks
Silver Breakout IIThis is one to watch. As the US Dollar Index (DXY) falls, gold and silver will go up. Take a look at the 1M MACD, we could see a long bull run in metals, especially silver.
$SLV Pullback?SLV has shot up again in the past couple of weeks. After taking a look its a bid extended from the 20,50,100 day MAs on the daily chart. Volume hasn't been anything significant and its facing a long standing trendline. Dollar has also been melting down which is a nice catalyst for SLV but eventually the dollar should find some support near term imo. I expect SLV to cool off over the next week or so and get somewhere near that orange line marked. Not an exact science but somewhere nearby. I think it will take feds actually pivoting to really send SLV into a breakout that people have been waiting years for. Just my opinion open to hearing others! Not financial advice. AMEX:SLV
SLV - Ratio CartRatio chart of SLV /SPY. As you can see SLV is flirting with a breakout from a long standing trend line in a tight bull flag pattern. Volume is tracking with heavy moves up and light moves down. We have a rising 50 day ready to make a golden cross. I like SLV to break out and move quickly to the upside over the next few weeks and perhaps even months. Gold made its post pandemic high (its second stab over 2000) in March and typically silver makes its new high within a year. For this analysis the August 2020 pandemic high for gold can be considered an anomaly and not the high from which silver would typically make its new bull market high. Charts on silver miners have perked up. The dollar is still in need of additional correction and I see that lasting weeks as well. If you're long the market SLV looks like it may be a nice way to hedge against an equities downturn. Not trading advice just an observation. Good luck trading!
SLV - Significant Upside over next six monthsSilver looks attractive. I was anticipating a three week test of the low, testing 17, but even with the Fed's remarks that aggressive interest rate hikes will continue, silver held its ground. Saw a piece yesterday on seasonality in precious metals prices. The author suggested that silver is seasonally strong from November through the end of February. The morning's market strength may indicate that it is expecting a weak jobs number. There seems to be strength across the board. Are we at peak interest rates?
Long term buyers might consider GOLD PAAS and other producers who are incorporating variable dividends into their work plans. A turn in metals prices can result in significantly higher dividend payouts.
SilverSilver looking good on the monthly, I have seen that coins are short in the physical market. It's got to be a long soon, despite the fed rate
SLV - Five Month Income PlayI'm looking for a down week in SLV. It could drop to $17, testing the lows set three weeks ago. If it holds the lows,
I will buy SLV at $17 and sell the March 31 $18 option. A
t current prices, SLV Mar31 $18 sells for $152. Amortized over five months, a 1.71%, or $30.19 per month is earned (27% annualized). A lower stock price will improve this percentage.
A SILVER underdog and a correction of the Gold to Silver ratioThe History of the Gold-Silver Ratio
Citation: www.investopedia.com
Historically, the gold-silver ratio has only evidenced substantial fluctuation since just before the beginning of the 20th century. For hundreds of years prior to that time, the ratio, often set by governments for purposes of monetary stability, was fairly steady.
The Roman Empire officially set the ratio at 12:1.
The ratio reached 14.2:1 in Venice in 1305 and remained at this level up until 1330 when it fell to 10:1.
In 1350 it fell to 9.4:1 in some places across Europe. It climbed back to 12:1 in the 1450s.
The U.S. government fixed the ratio at 15:1 with the Coinage Act of 1792.
The discovery of massive amounts of silver in the Americas, combined with a number of successive government attempts to manipulate gold and silver prices, led to substantially greater volatility in the ratio throughout the 20th century.
When President Roosevelt set the price of gold at $35 an ounce in 1934, the ratio began to climb to new, higher levels, peaking at 98:1 in 1939. Following the end of World War II, and the Bretton Woods Agreement of 1944, which pegged foreign exchange rates to the price of gold, the ratio steadily declined, in the 1960s and again in the late 1970s after the abandonment of the gold standard. From there, the ratio rose rapidly through the 1980s, peaking at 97.5:1 in 1991 when silver prices declined to a low of less than $4 an ounce.
For the whole of the 20th century, the average gold-silver ratio was 47:1. In the 21st century, the ratio has ranged mainly between the levels of 50:1 and 70:1, breaking above that point in 2018 with a peak of 104.98:1 in 2020. The lowest level for the ratio was 35:1 in 2011.
When Was the Gold-Silver Ratio at Its Highest?
The highest the gold-silver ratio has been in recent history was in April of 2020, following the onset of the COVI19 pandemic, when the price of gold outpaced silver by more than 125:1.
What Is the Historic Long-Run Average for the Gold-Silver Ratio?
The long-run average gold/silver ratio is around 65:1 since the 1970s when the gold standard was abandoned. Historically, however, the ratio hovered more around 15:1.
From Peter Frankopan's book "The Silk Roads"
Chapter 12: The Road of Silver
Page: 235
As Adam Smith later noted in his famous book on the wealth of nations, "the discovery of America and that of a passage to the East Indies by the Cape of Good Hope, are the greatest and most important events recorded in the history of mankind." The world was indeed transformed by the roads of gold and silver that opened up following Columbus' first expedition and Vasco da Gama's successful journey home from India.
Page: 233
"In China, silver's value hovered around an approximate ratio to gold of 6:1, significantly higher than in India, Persia, or the Ottoman Empire; its value was almost double its pricing in Europe in the early sixteenth century."
More Gold Than Silver Above-ground
Citation: www.silverbullion.com.sg
From the crustal abundance of precious metals, we can also see that the gold-to-silver ratio in the earth’s crust is about 1:19. This means that there is roughly 19 times more silver than gold in the ground.
However, the mining gold-to-silver ratio is about 1:9 – only 9 ounces of silver are mined for every one ounce of gold. The reality from mining is a stark difference from scientific estimates.
According to the annual survey reports from Thomson Reuters, there are 71,578 tons of ‘identifiable above-ground’ silver stocks. Compare this to the 187,200 tons of above-ground gold stocks. There is actually lesser identifiable silver than gold above-ground.
Despite this, the gold-to-silver ratio, when comparing the prices of both metals, is about 1:70 at the time of writing. In other words, the value of an ounce of gold is equivalent to 70 ounces of silver!
