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ISHARES SILVER TRUSTISHARES SILVER TRUSTISHARES SILVER TRUST

ISHARES SILVER TRUST

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SLV trade ideas

SLV - It's Not as Bad as You ThinkMany lament as gold continues to forge ahead, apparently soon to hit the highs, while silver seems to languish, continuing to get smacked down over and over again. A weekly look comparison however shows that Silver has pretty much tracked gold over time and is poised to break out to the upside. Again, patience continues to be required as the potential for more sideways action is possible. The weekly line chart shows the possibility of a reverse head and shoulders pattern that can drag this out for yet another month or so before the next leg up. There is no telling on this though. I've been long over the past few years and it seems that whenever I want to throw in the towel and sell some of my paper silver, it shoots up the next day. I have to keep reminding myself that selling at 17 or 18 is not why I am accumulating a position both in the paper products, mining and streamer shares, and physicals. The very long term channel shows prices hitting 70s and some suggest even 100 or better. As one commentator on YouTube suggested, it only takes one company producing solar panels or some other product that depends on silver saying that production has slowed due to their inability to get enough silver. At that point, our only risk is that the government confiscates our silver due to National Security concerns. Hope not.
AMEX:SLVLong
by Glewis54
SLV - Post-Slam down ProjectionsMust admit that these regular-occurring slamdowns is even starting to affect me. I had previously been conditioned to "buy" but this has continued on for years now and I stepped back from buying more. Perhaps this can indicate that in general, the bulls are giving up. I suppose that is why I like to frequently buy the physical silver and gold. I look at that a bit differently than the ETF trades. That being said, technically, SLV has only retraced back to the 50% Fibonacci level from its last major top. In David Halsey's Trading the Measured Move book, this is the level when the algorithms come in to buy. The target is the -.236 mark. If this plays out, the projected channel shows that this target should hit by mid-April.
AMEX:SLVLong
by Glewis54
7
A Pirate Adventure: Bull Flag Breakout ContinuationAhoy mates! Let us prepare for perhaps the greatest part of this pirate adventure. The battle against all headwinds seems near an end and our treasure is once again in sight! Time to raise our sails! TA: Seems like we just muddled through a period of consolidation after breaking out of the bull flag a few weeks ago. Friday, SLV started rising with great RSI strength which is a sign that a much stronger rally lies ahead. Time to hop on but stay cautious to any sudden reversal. Once we are through the previous high, sailing *should* be fairly smooth, at least to the 19.x level. Good luck mates!
AMEX:SLVLong
by supere
3
SLVs Next MoveSilver analysts are divided on where the Wave count is. Some suggest that we are in a B wave correction to a longer term move down. Others suggest that we are in a wave 5 of a bullish move. I side with this interpretation. If correct, it appears that we may be completing a minor wave 2 of the expected 5 wave move up. As mentioned several times, wave 5 moves in commodities often are the strongest while in most other instruments, wave 3 tends to be the longest. Usually, according to Elliott Wave theory, either wave 3 or wave 5 extends. In the major wave 3, we do not see any extensions so it's possible that this major wave 5 may be explosive. Fundamentally, silver supply and demand numbers indicate annual shortages while production numbers continue to decline annually. When looking at the longer term performance of silver versus gold, gold has retraced close to 618% of its decline from the major peak in 2011 while silver struggles to even get to the .236% fib level. The gold/silver ratio reaches toward 90 even though some silver producers report that they are pulling out gold and silver at an 8:1 ratio. There is no doubt that there are major price dislocations in all of the markets as interest rates remain historically low and the federal reserve continues to inject liquidity, pushing up risk assets ever higher. While silver has not participated in this general rise, a historical price review shows that silver has made major bottoms consistent with stock market bottoms. Silver's major low in 2008 coincides with the low point of the last Recession. So the bottom line is this, if this is a B wave with a major C wave down to come, don't expect to find a safe haven in stocks. It may in fact be an indicator that the economy is heading in to a recession. WIth the economy currently firing on all cylinders with Trump keeping the pedal to the metal, I'm not seeing any sign of recession. So while the market timing may be distorted, I continue to buy physicals for the very long term and use LEAP options to juice my portfolio. While my long term target based on channels suggest 70s, others suggest that silver can move above $100/ounce. With such a small market, should funds decide to take even small positions in silver, demand will greatly overwhelm supply. Only time well tell if this scenario plays out but there is no denying that silver is undervalued especially when compared to other investment assets (including junk bonds).
AMEX:SLVLong
by Glewis54
3
SLV - Progress ReportSLV has completed a five wave up move. As my overall price objective for the main move is at least 19.58, it's my assumption that this was just a larger wave 1. A wave 2 may have already completed with a .382% retracement. There do appear to be 3 waves signifying a corrective wave. Or a larger A-B-C correction might take price down to the 50% fib level of 16.33. I had previously bought Jan 2020 15-17 call spreads and on the rally, sold off the 15 calls, leaving me short the 17s. One more week is left until January expiration. These short calls closed at 0.13 indicating that the market expects SLV to rise to 17.13 next week. Strong relationships have been noted with stocks rallying and silver and bonds falling, and vice versa. Could be that stocks have completed a major five wave move up and may begin a corrective wave. IF the correlations continue to hold, one can expect strength in precious metals and bonds.
AMEX:SLVLong
by Glewis54
2
SLV - 2020 is here!I am expecting good things for silver in the upcoming year. Precious metals and commodities are due! XLE has also done nothing for ten years. SLV appears to have broken out of its flag pattern and an important FIB level after a long consolidation. Based on the impulse leg I am looking for $19.63 or so for this move. Silver miners making new highs still but looking a little tired at this point. This is a long term buy and hold for me and 2020 should see some nice gains.
AMEX:SLVLong
by BobbySpa
SLV - Weekly Chart BreakoutThe weekly chart for the iShares Silver ETF shows how it has been pulling back from its recent highs back in early September. The stock broke down in early November but was able to find support along the 50-day EMA line. It has managed to break out again this week as it nears volume levels that will not be able to hold much resistance against the price. Continued strength in price should help a Golden Cross occur to confirm the bullish strength behind this commodity. I would like to see this ETF clear $17.10 just so it gets above and holds that last volume level but definitely looking promising. My potential price targets are noted.
AMEX:SLVLong
by Chartimistic
SLV Triggers Weekly Parabolic BuySilver's strong performance this week triggers the Wilder's parabolic indicator signal. As price breaks through the upper resistance marker, one would buy at this point. In future periods, the dotted line will shift from the upper range of prices to the lower. One would stay long until the bottom signal is breached. My first target remains 19.54 however, I expect price to break through previous highs to complete the double bottom formation.
AMEX:SLVLong
by Glewis54
SLV Good indicator to watchAs SLV starts to rally and quickly becomes overbought due to recent low volatility, A good indicator to watch now is the BBW. I track it in Excel with the formula stdev(range). As this indicator continues to expand, it shows me that price is moving away from the moving average at a pace quicker than the moving average is rising. As long as this indicator is rising, one wants to stick with the trend. When it reverses, price generally will revert to the moving average or sometimes even reverse to an opposite (oversold in this case) extreme. Happy Holidays everyone
AMEX:SLVLong
by Glewis54
SLV and dollar correlated?As news that the Fed will be injecting hundreds of billions more dollars into the repo market, one has to expect that an increase of the money supply surely needs to affect the price of precious metals. But looking at a comparison of SLV and the dollar show that overall, Silver and the dollar appear to be very correlated. From time to time, I look at the numbers at usdebtclock.org Looking in the far right column, we can see that the dollar to silver ratio is $1,053 an ounce. Yet silver languishes at prices far below this. One reason is the paper to silver ratio of 201.96. Not sure that the prices of precious metals will ever reflect their true value, that is, until the fiat currency system resets or collapses. But this prospect is a key reason why buying the actual physical products make sense. Where else can a worthless piece of paper buy so much value?
AMEX:SLVLong
by Glewis54