Silver Futures Daily Log ChartSilver has more work to do before a solid uptrend can be renewed.
Stay clear until chart tells you it's time to get back in.
#patience #fintwit #silver #gold
SI1! trade ideas
Silver chart overviewThe price of silver this morning formed a new higher high at $19.67; we did not stay there for long because the price retreated very quickly. Today's minimum was at the $19.05 level, after which we see an immediate minor recovery from the $19.20 level. For a bearish option, we need a negative consolidation and a drop below the $19.00 level. Then we need to stay down there for the bearish trend to continue. Potential lower targets are $18.80, $18.60 and $18.40 levels. For a bullish option, we need a new positive consolidation and a move above the $19.40 level. We need to stay there and continue the silver price recovery with a new bullish impulse. Potential higher targets are the $19.60 and $19.80 levels.
✅SILVER LOCAL LONG🚀
✅SILVER was trading in a downtrend
But now we are seeing a bullish breakout
So I am locally bullish biased
And I think that the Silver will go further up
LONG🚀
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Sliver Futures (SI! ), H4 Potential for Bearish MomentumType: Bearish Momentum
Resistance: 19.965
Pivot: 18.830
Support: 17.495
Preferred Case: The H4 price is below ichimoku cloud , The price may drop form the pivot at 18.830, where the overlap resistance is to the 1st support at 17.495 where the swing low sits
Alternative scenario: If there is a price reversal, price will move to 19.965, where the overlap resistance and 61.8% fibonacci retracement are.
Fundamentals: There are no major news
Silver long positionafter a series of lower lows and lower highs trend is broken
possible indication of trend reversal
and entry for a long position
Sliver Futures (SI! ), H4 Potential for Bearish MomentumType: Bearish Momentum
Resistance: 19.965
Pivot: 18.830
Support: 17.495
Preferred Case: The H4 price is below ichimoku cloud, The price may drop form the pivot at 18.830, where the overlap resistance is to the 1st support at 17.495 where the swing low sits
Alternative scenario: If there is a price reversal, price will move to 19.965, where the overlap resistance and 61.8% fibonacci retracement are.
Fundamentals: There are no major news
One more dip into lows before the grind into ATH's for Silver!One more dip before lift off or slow grind to ATH's your guess is as good as mine but current super cycle count is 5 of C of 2 of 5. The break of the 65% fib back in February 2021 took out the short fib algo's now the fall back into the long fibs looking for support. We're running out of room and have a nice zone for accumulating a long position starting at the August low 17.880 to the 65% fib level 16.280. The -0.236 profit target is sitting nicely in between the 61.8% and the 65% fib levels with a lower border of a pitchfork as well. Will the banks finally let silver run?????
Silver chart overviewThe price of silver tested the $19.00 level of resistance yesterday, failed to climb above, and turned again on the bearish side. During the Asian trading session, the price first fell below $18.80 and soon below the $18.60 level. The bearish trend continued in the European trading session, and the price fell to $18.38. We could soon test support at $18.20 from Monday. A strong dollar could easily push the price of silver below that level of support, and our target would then be the $18.00 level. For a bullish option, we need a new positive consolidation and a price return to the $18.80-$19.00 zone. Then we need to hold on there and move above the $19.20 level with a new bullish impulse. After that, the price would be better positioned to continue its recovery. Potential higher targets are the $19.40 and $19.60 levels.
Silver's major support and resistance levels Silver's major support and resistance levels as per weekly close,where silver can take support and face resistance in next coming week. Three black lines indicating central pivot range
SIlver MiniCurrently silver trading at 55700. Buy silver mini lots from 55555. accumulate at every 500-1000 Rs lower value based on individual risk appetite.
In other words, buy below 18.5$ and about 1-2% down, todays rate are of Jun 2020, the lowest in 5 years was in MAR 2020 about 12.5.
With FED meeting looming and bond yield increasing, dollar will become strong and metal will become weak, but Rs depreciation may provide support after Nov 2 to certain extend and with festival season ahead.
RBI may not support Rs when FED increase rate. The same pattern is seen during last FED rate rise.
Start selling above 57500-58000. for multiple lots, sell with upward movement of about 750 Rs for each lot.
THis is for SILVERM NOV future. For SILVER adjust the values accordingly.
The above suggestion is for education purpose and individual shall buy based on his own judgement and risk appetite.
Sliver Futures (SI! ), H4 Potential for Bearish MomentumType: Bearish Momentum
Resistance: 21.325
Pivot: 19.380
Support: 17.380
Preferred Case: The H4 price is in a downward trend and crossing below ichimoku cloud . The price may drop form the pivot at 19.380, where the overlap resistance is to the 1st support at 17.380 where the swing low sits
Alternative scenario: If there is a price reversal, price will move to 21.325, where the swing high and 38.2% fibonacci retracement are.
Fundamentals: There are no major news.
Silver chart overviewAfter the US inflation report, the price of silver fell sharply as the data showed that inflation was still strong. These results further strengthened the dollar, which caused goods denominated in dollars to fall. Potential lower support targets now are $18.40, $18.20 and $18.00 levels. For a bullish option, we need another positive consolidation and a return to the $19.00 level of previous support. Then we must stay in that zone and climb above the $19.20 level. After that, the price could more easily continue the bullish recovery with a new bullish impulse. Potential higher targets are the $19.40 and $19.60 levels.
MSA Model Indicator on Price behaviour of SilverMSA Indicator was able to capture on 05 September 2022, the tiredness in the Over bought position of Silver @ 60767. It is further expected that Silver may continue its downward journey for some more time. At the time of writing this note it has a SA Value of -2.94 @57325.
Silver Futures ( SI1! ), H4 Potential for Bearish MomentumType: Bearish Momentum
Resistance: 21.325
Pivot: 19.970
Support: 17.495
Preferred Case: The H4 price is below descending trend with prices trading below the ichimoku . The price may drop form the pivot at 19.970, where overlap resistance and 38.2% fibonacci retracement are to the support at 17.495 where the swing low sits
Alternative scenario: If there is a price reversal, it might test the 1st resistance at 21.325, where the swing high and 38.2% fibonacci retracement sits
Fundamentals: There are no major news.
13.600 first tp for position sell!.I don't know what's going on the world everything is incontrollable.
Everything is losing their worth.
Silver: TightIt’s getting tight! Silver hasn’t all that much room left to finish wave 4 in green… We expect it to make it in time, though, and to go for the resistance at $20.87 afterwards. Once above this mark, silver should push off into the orange zone between $22.11 and $23.72 to complete wave 5 in green as well as wave iii in orange, before starting a countermovement. However, there is a 45% chance that silver could fail to get its act together early enough and could thus drop below the support at $18.96, which would then trigger further descent below the next marks at $17.89 and $17.40.
Silver chart overviewDuring the Asian session, the price of silver continued to retreat. In the European trading session, the price of silver fell to $19.20, the support level at 61.8% Fibonacci. Silver, like gold, is taking advantage of the current dollar weakness and is moving toward the $19.40 level. For a bullish option, we need a continuation of this positive consolidation and a move towards the $19.60 level at the 50.0% Fibonacci. Then we need to stay above it and try to continue the recovery. Potential higher targets are the $19.80 and $20.00 levels. For a bearish option, we need a continuation of the negative consolidation and a price drop below the $19.20 level. After that, the price of silver would continue its further retreat, looking for better support. Potential lower targets are $19.00, $18.80 and $18.60 levels.
Silver CyclesSilver has a roughly 33d mean daily cycle and a monthly roughly 100d cycle. Monthly cycle can be 3 or 5 daily cycles. Only want to be long Silver during both the daily and monthly up cycle.
Yellow on this chart indicate the COT commercial traders going from short to neutral then back to short as price goes down into a bottom then rises again. They as market makers are rarely long, because spec's and small traders are long. Click on SI at : cotpricecharts.com/commitmentscurrent to view silver COT chart.
Nasdaq and silver shorts after inside range days workednow taking profits from my short trades that triggered new the low an prior inside range day
taking profits now at the 50% level and then at the 0.618 pullback level on silver.
CME_MINI:NQ1! with the same inside range short setup, now has new lows, taking some profits here and trailing the rest with a 2 days high trailing stop....
Silver chart overviewAfter forming last week's high at $21.23, the price of silver has been in a bearish trend since then. With the Fibonacci setup, we can measure pullbacks. The first was stopped at the 38.2% level, then we see a recovery to $20.80, but not the formation of a new higher high. The price of silver is making a new pullback which was stopped today at the 50.0% Fibonacci, and we now have some support here at $19.60. Silver prices are recovering again to $19.90, and we are now following this bullish impulse to see where the next high will be. The formation of a new lower high is a sign of a further weakening of the price of silver, and our potential target is the 61.8% Fibonacci level, the support zone of $19.00-$19.20. For a bullish option, we need a continuation of the current momentum and a price jump again to the $20.80 resistance level. A break above would greatly benefit us for a potential continuation of the price recovery. The next target is last week's high at $21.23 level.
Silver Futures (SI1!), H4 Potential for Bearish DropType: Bearish Momentum
Resistance: 21.325
Pivot: 20.050
Support: 18.755
Preferred Case: The H4 price is in a downward trend. The price may drop form the pivot at 20.050, where the overlap support is to the 1st support at 18.755 where the 61.8% fibonacci retracement sits
Alternative scenario: If there is a price reversal, price will move to 21.325, where the swing high and 38.2% fibonacci retracement are.
Fundamentals: There are no major news.
SILVER LONGSilver has been on a down trend for some time now respecting the wave pattern on the weekly chart, however I believe it might consolidate a bit before going, we gonna have to look at the candle stick analysis... Silver respect the supply and demand levels, which somehow makes it easier to trade and understand...
