SIL trade ideas
SILLooks great SIL burned time off the clock and worked off any divergent high potential. strong gap over resistance and retest. strong breakout with volume over the channel and we should see 90 on this.
Silver Miners RUNNING!Another 6 month candle chart for silver senior miners. Reverse symmetry move should have it +70 in next 2 months!?!? Beware of heights. Maybe Q1 2021 for the conservatives? WOW. #debt #gold #silver $slv $gld #fintwit $sil $silj $gdx $gdxj
SIL points of interestIf SIL can hold above 44.5 the next few days, we could see a breakout to 66, 67 over the next few weeks. If not, it could drop as low as 40 before a bounce. That would not be surprising either as we're in a time of extra volatility likely for the next month. If it drops much below 40 I would get the hell out of all stocks.
silver miners are faring better than the metalfrom march low til now SIL outperforms SLV
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
SIL looks to hit around 43.4 from hereADX over 25, and the price seems to be breaking out of trendline on the weekly chart. (Note that I am displaying the daily chart)
Silver Miners (SIL) Break, Retest, Fractal.
Silver Miner Stocks, Broke out from Resistance, Retested Support Level, above MAs(CrossOver imminent). Stocks, front-running the metal's break out ?
SIL: Descending triangleDescending triangle on descending volume
Price currently on 33.98$ support
Resistance at 36.85$
ATR lowering (lower volatility)
Cons
PPS above 50MA
200MA pointing up
RSI above 50
If confirmed:
Target #1 = 29,90$
Target #2 = 27,80$
Silver Miners looking promising. On the weekly chart you can see there is a long term down channel in SIL. But the on the recent low at 16 was
above the precious low. And there was a bullish divergence in the weekly RSI. On the daily we have sort of a cup and saucer look. I would not be surprised to see a break up from here above the downtrend channel. If so a possible initial target is given. Drop below the short term uptrend line would be worrisome.
Process you way.
Bullish SilNot financial or trading advice!
Entry: $30
Stop: $21.50
Target $55
Risk/Reward: 1/3
I am long term bullish silver via the SIL. Given recent CB policy and other fundamentals I believe that precious metals have further to go higher. Gold has run recently althought pulled back. GDX appears possitioned to break out of a multi-year base. Silver seems to be a laggard. However should Gold continue higher and GDX breakout, silver should run higher as well. You can wait for the break of the patterns or for confirmation via GDX or Gold.
My preferred way to play this trade would be with long dated options. Buying the 1/21/22 call. The reason I prefer long dated options is should I be wrong on the breakout, it will leave us with time to wait for the bull move to begin or with the flexibility to get out at an acceptable loss. We can also hold on or roll up protection to continue the move higher.
The trade of the decadeAs you all know, the Gold/Silver ratio OANDA:XAUXAG is high enough to trigger a Silver mania once again when the recession hits.
The entry point is $30.5 or now, expecting a target of 50-60$ by the end of the year.
Doubling your money in less than a year is great enough, and please note that such ETFs perform better than OANDA:XAGUSD prices for a simple reason:
If you are creating something that costs 1000 and selling it for 1100, your markup is 10%, and profits are 100$
If it's the price increase to 1200, your profits 200$ doubled from 100$
So holding this asset for 1100$ and selling it at 1200 will make you 100$ in profits while having the company shares may double your investment (of course there are other parameters to watch)
SIL Silver miner ETF Head and shoulder short squeezeSome traders went short on this H&S break and will be forced to cover when the price goes higher. The trend on the daily is UP with trend line support and silver is setting up for a short squeeze because traders went short on the monthly break of a triangle and a W pattern formed and price action is going up with large up bars.
SIL/SLV Ratio Favoring Silver BullsOne for the #silver bugs. The $SIL / $SLV ratio looking to post back-to-back weekly closes above horizontal resistance.
Silver miners outperforming silver: #notbearish
Silver Miners breaking out of multi-year downtrend!SIL - Silver Miners are now breaking out of a multi-year downtrend started in April 2011. Silver itself has little resistance on its way up to $21. The last time silver was at $19.50, SIL was in the $38 to $44 range. Now is the chance for silver miners to finally catch up in value to the silver price.
