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SI1! trade ideas

Silver Future Momentum BuySilver Range: 66050 - 69000 Our Preference: Buy Silver 66350 back up Buy 66050 for target 68500 with SL only below 65700 (Only if sustain) . Alternative Scenario: Sell Silver only below 65700 for target 63800 with SL of 450+ point. Short Term Technical view There is a weekly Chart of Silver MCX. Trendline Begin from 27th Nov 2020 Low 57877 Pass by 31st March 2021 Low 62500 Expected on 20th July 2021 Low 66674 The Trendline shows Silver taking support @ 66674, at the same time Silver made a low of 66286 on 20th July 2021. Silver has a low of 62500 Post high 74222 where is basic 70% of correction complete @ 66050. Comex Silver has a good support @ 24.67$ where Latest low 24.79$. Which is near the Buy Zone. Above Trendline & Correction both indicate Silver should Buy from 66050. As Silver closes below 65700 will exit from Buy Position & short term sell will activate based on weekly close.
MCX:SILVER1!Long
by apcconsult01
SILVERMIC2 SignalTopic : We expect a correction due to the price hitting the support of 67785 using a powerful and heavy drop that has also caused the downside channel to break 1 - The first point to return to the price area is 69433 due to the presence of a node in the movement and the previous collision of the price to this area, and we expect the price to return to a node in the technical analysis. 2 - On the other hand, this node is at the level of 0.382 downward trend of AD wave 3 - On the other hand, this area is the intersection point of the downtrend line with a level of 0.382 4 - On the other hand, this point is also at the level of 0.5 CD wave, and this increases the importance of this area for us. Note: This analysis is for training purposes only Please send us your comments
MCX:SILVERMIC2!Long
by Soheil_Khosravi
Silver's Elliott Wave Suggests A Triangle is UnfoldingSilver's current Elliott wave pattern appears to be a triangle. Triangle's unfold in 5 waves and silver's triangle is near the end of the 5th wave. Prices may dip to $24.75 where a couple wave relationships exist. Silver does not have to dip and this would not be a tradeable move lower. Parallel waves in the triangle tend to have 61.8% or 78.6% distance relationships. Wave C = .786 x Wave A. Also, Wave D = .618 x wave B. Based on the general look of the structure and some geometry within the structure forming, it does appear we may be on the finishing stages of a triangle pattern. If this triangle is the pattern, then silver may dip to $24.75 though it doesn't have to. This is a bullish chart to new highs If silver runs up to new highs, this may suggest a weakening dollar which is what we've discussed on some of the forex pairs in the Elliott Wave Weekly Report. Good luck!
COMEX:SI1!Long
by JWagnerFXTrader
3
SILVER forecast - went into correction mode and might extend furSilver is witnessing quite a huge dip today, opened gap down below the support area, seeing further massive sell-off , this correction might extend further as i see a probability of cypher pattern on the daily chart and the support of cypher pattern also aligns with weekly support around 64810- 63000. Hence , even if we se any rally in the coming trading session , it might get consumed in another selloff. Conclusion : short term trend is definitely bearish, but intermediate and long and long term trend is still bullish, so as a investor one can wait for 65000 - 63000 levels as an investment zone.
MCX:SILVER1!Short
by manuagarwal21