Silver is getting extended!Silver is looking like a high probable short opportunity.
its already very extended and overbought, but it may want to tag or pierce the orange trendline.
SLV trade ideas
Silver Breakout
It seems like the US Dollar Index has peaked (as of now) at 108 which pushed gold and silver down drastically. But we could be on the verge of a massive breakout in silver, back up above $25 an ounce as well as gold back above $1900.
You could start a position now incase silver continues upward or wait for DXY to fall below 100, but by then, you may miss a significant rally in silver.
SLV ETF is screaming with a BUY signalSilver may outperform gold for the short term as SLV is screaming for attention. It just had a recent golden cross along with a by-signal measured by Aroon up. So don't miss out on this one at all! I'm also testing the same theory with other highly liquid ETFs as well for tomorrow's trading day.
Collect Silver to Collect GoldSLV Breaking out, With Volume. See ON Balance volume to See relative volume on balance (already purchased) than in the past volume spikes. Consider supply vs demand if inflation continues.
Educational Resource:
www.youtube.com
Background:
Gold is Nearing All Time highs.
Silver is at about 1/2 of its pervious ATH.
COMEX:SI1!
www.tradingview.com
Silver is Becoming more valuable in comparison to gold.
www.bullionbypost.com
Gold To silver Ratio coming down, signifying that one ounce of gold is becoming easier to buy with less silver.
As long as inflation remains persistent, and the interest rate remains around 5%, the issue of inflation will not go away unless these two numbers cross. Meaning that inflation will continue to grow, not shrink, and the problem remains. Right now economists are happy with a shrinkage in the rate of growth of inflation, indicating the issue is NOT YET RESOLVED. The Next FOMC is in the first week of May. WE have 3/4 of a month left.
💿 iShares Silver Trust | Aims $26, $33 and $44iShares Silver Trust (SLV) is developing a strong bullish bias based on this long-term, monthly, chart.
First, Silver peaked in April 2011 (left side of the chart).
This is followed by a strong bear market that hit a low in December 2015.
This low is tested again March 2020 thanks to Covid.
The whole period from late 2015 to early 2020 can be considered a consolidation phase.
After the March 2020 low, which set the lowest price since February 2009, a new bullish wave develops.
With a higher low set in September 2022 and now strong bullish action/signals developing, Silver is aiming at a higher high.
The targets based on Fib. proportions together with EW theory go as follow:
1) $23.4
2) $29.6
3) $33.3
4) $43.8
This setup is invalidated with a monthly close below $13.0.
This is super-long-term.
Thank you for reading.
Namaste.
SLV had a strong breakoutSLV had a strong breakout, but is getting extended but is still very strong, supply on the left is rather scattered and not definite zone. Metals can have impulsive emotional moves, and can reverse reverse quickly
Head and Shoulders Bottom | 12% move possibleiShares Silver Trust forms bullish "Head and Shoulders Bottom" chart pattern
"Head and Shoulders Bottom" chart pattern formed on iShares Silver Trust (SLV:NYSE). This bullish signal indicates that the stock price may rise from the close of $21.94 to the range of $24.10 - $24.60. The pattern formed over 35 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: The price seems to have reached the end of a period of "accumulation" at the bottom of a major downtrend; the break up through resistance signals a reversal to a new uptrend.
The Head and Shoulders Bottom is created by three successive declines in the price following a significant downtrend. The lowest low (head) is in the middle, flanked by two higher lows (shoulders) at roughly the same level. Volume is highest as the price makes the first two declines, then diminishes through the right shoulder. Finally volume surges as the price closes above the neckline (drawn between the two highs) to confirm the reversal.
Shopping Call Options for the next Silver Bull Run to 50Shopping Call Options for the next Silver Bull Run to 50
Looking at how to select the optimal months and strikes for potential silver upside.
Buying options is paying upfront for leverage, and the premiums evaporates just like interest payments on a loan.
Silver is very volatile, and in the past has swung wildly, in both directions, even when in a bull market.
#silver #bullmarket #gold #preciousmetals #banks #debt
Silver sees a small pullbackI think SLV retraces from here down to the $20.18 fib. Trend looks bullish but pullback is needed before continuing the trend. Also, this range has been a major resistance twice before
$SLV SILVER RUSH 2030long term down trend line may be setting up for a break
measured move could send silver to $100 or more
could take many years to play out
Long SLV. Silver to shine as dollar bounce wanes. The dollar is in a secular downtrend and after a brief bounce back which we played on the long side, the DXY is looking toppy and should continue to rollover in the intermediate term. Besides stocks, a beneficiary of a weaker dollar are the precious metals. I like long SLV as a high beta trade and expect SLV to continue to bounce higher in the coming weeks.
Silver roadmapSilver should run hard very soon for several weeks/months....all aboard the rocket to $40 Silver...or more!
Possible Cup and Handle on SilverDaily chart going back a year. I'm currently averaging into SLV calls 6 months out.
Got some legsIt’s got a good chance to shoot up here next week or so: It’s looking good but might not last long.
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.
