Silver - forming inverted H&SSilver is forming right shoulder for completion of inverted H&S.
Gives a good RR for first target around Rs. 115000-120000
QI1! trade ideas
oil ES silver and other markets September 4th in this video I reviewed several of the markets that I talked about yesterday and and earlier than yesterday and these are making some very nice moves consistently with the patterns we are looking at such as ranging markets and ABCD patterns and it's a specially useful when you judge how markets Gap and how the market retest the gaps.
Silver - Long Term ChartWave 2 completed or about to be completed. Next 2 weeks will indicate that. If it breaches the low of 26.50 then wave 2 is still in progress. But we are close. The fun will begin once wave 3 starts.
Disclaimer: I have long positions in Silver.
Silver little bleak and weak now, but will shine later and how. Shadow of Silver today is greyish. As if the fading moon after a full moon day. Silver may consolidate between 82 to 78K levels. If 78K is broken by any chance, the threat of it falling to the levels of 65-68K looms large. If it reaches 65 to 68K level by any chance, Silver become a must accumulate commodity. On a long term time frame (14 to 28 months) Silver looks all set to cross 100K mark. If there is some global event that bring uncertainty, Silver can reach 100K sooner. Keep Watching this commodity. It is an accumulate at lower levels.
Silver's Roll Premium CrushSilver
Technicals (December - Z)
Silver's pullback aligns with the roll from September to December which carried a hefty premium 40 cents.
Silver futures corrected over 2% in the overnight session after analyst downgrades of the Chinese economy weighed on Copper prices. Futures will need to remain above 28.66 to keep the bullish theme alive. Any close below that level opens the door for another retest of the 200 DMA.
Silver (Dec)—Daily stochastics are correcting from overbought territory, indicating the market may be starting to correct. DMI - above DMI +, and the ADX is declining, indicating the recent rally is losing steam. The average true range (ATR) is 84 cents per day.
For Trend Traders
Bias: Neutral
Bull Trade Trigger: 30.545
Bear Trade Trigger: 28.665
Resistance: 30.565***(Bull Trader Trigger), 32.00-32.50****
Pivot: 29.78 (50 DMA)
Support: 28.66** (Bear Trade Trigger), 27.38**** (200 DMA)
Check out CME Group real-time data plans available on TradingView here: www.tradingview.com
Disclaimers:
CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
*Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services.
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
Silver - Medium TermWave C correction is ongoing. Prior charts are pretty much negated. Waves plot their own course, so patience is very much needed. Once this wave C correction ends, a new 5 wave impulse will begin. Positive divergences are already visible, price just needs to follow.
Disclaimer: Still holding long positions in Silver.
Chances of Great Profit in Buy - Invest NowMarket is towards boom invest now in buy.
Im already in buy and earning profit.
I invested yesterday.
Wave 2 could be doneShould be finishing wave 2 on Monday night in the futures and by Tuesday morning we SHOULD be rallying to begin wave 3.
Silver - Swing TradeSilver forming a triangle and price trying to break out. Any confirmed break upwards should launch another 5 wave impulse move. Price may come down and try to retest the upper trendline of the triangle but I see bullish momentum so it should bounce upwards.
Disclaimer: I have long positions in Silver.
Silver - Swing tradeSilver forming a triangle and price trying to break out. Any break upwards should launch another 5 wave impulse move.
Disclaimer: I have long positions in Silver.
Silver has a Great chance to Reach 300% or 30.000 Points.Im pretty sure that silver will reach 30k.
so its time now for you to invest in silver buy side.
my yesterday analyses were true as well.
so try my tips and earn profit.
Revisiting my silver roadmap from January.Odds for my bullish roadmap from January to playout increased once silver closed above that black, slightly descending line.
Silver is still above the "wall of support".
This tells me the burden is now on the bears to undo this.
Until then, this looks bullish.
#silver
Silver Gaining demand Silver prices are gaining momentum
After giving multiyear breakout, commodity is trading at retest Level and booking bullish
one should plan to invest for long term and as a diversified portfolio item
Disclaimer: This is not any buy or sell recommendation, please consuld your financial advisor before taking any investment decision
BULL FLAG IN SILVER Silver (1-Hour Timeframe)
Breakout Alert: Silver has broken out above 85,000.
Target: Anticipating a move higher by 500- 800 points
Pattern: Potential bull flag formation in progress.
Risk Management: make sure to put stoploss
Disclaimer: This is a technical analysis based on the provided data and should not be considered financial advice. Trading involves risk, and past performance is not indicative of future results.
IF THIS WILL HELP YOU PLEASE LIKE THE POST ❤️
Silver - Near term projectionIn my opinion I believe we have a wave 3 in progress and price is currently stuck in a channel. Any breakouts from this channel will culminate in the end of wave 3. The retest will perhaps be wave 4 and then wave 5 should start. A correction will then follow and a new 5 wave impulse should then develop.
Disclaimer: I currently hold long positions in Silver.
Silver MCX: Bullish Momentum Builds Above Key Support LevelsTechnical Outlook for MCX Silver:
MCX Silver has shown strong bullish momentum, bouncing off the 200-day moving average (MA) near the ₹79,601 level, signalling a potential trend reversal. The price action indicates that silver is consolidating above the 50% Fibonacci retracement level of ₹79,601, which aligns with the 200-day MA, adding further strength to this support zone.
The recent recovery from this support level has pushed prices above the ₹81,000 mark, indicating the potential for further upside movement. The next immediate resistance is seen at the 61.8% Fibonacci retracement level of ₹83,300, a critical level to watch for a potential breakout. A sustained move above this level could open the door for a rally toward the ₹88,864 zone, corresponding to the 78.6% Fibonacci retracement level.
On the momentum front, indicators are turning positive, with the RSI rebounding from oversold levels and the MACD showing signs of a potential bullish crossover. Additionally, the low volatility environment suggests that a significant move could be on the horizon, potentially favouring the bulls if key resistance levels are breached.
**Action for Traders:**
**Buy** at the current rate, with an **add above ₹83,300** (61.8% Fibonacci retracement level). Set a **stop loss at ₹79,600** (50% Fibonacci level). Target **₹88,600**, which aligns with the 78.6% Fibonacci retracement level. The trade is further supported by ongoing geopolitical tensions centred around Middleeast, which could boost precious metals. Additionally, the gold-silver ratio is likely to drop from the 89/90 level, suggesting that silver will outperform in the near term.
Silver short termCorrection wave B is currently on going. Once corrective Wave C finishes, Silver should resume its climb upwards.
It seems likely that silver has bottomed, at least for nowSilver is rallying from strong support just above $26, while the gold to silver ratio is dropping from resistance at trend line.
Bottom or Bear Flag?Precious Metals, Today's Focus
The markets are highly emotional and started Wednesday strong before ending the day in the red. The Dow Jones Industrial Average closed down 0.6%, while the S&P 500 slid 0.8%. The Nasdaq Composite ended the day down over 1%. Gold spent much of the day in positive territory, while Silver took clues from Copper, and futures prices seemingly folded into the close.
Stock futures are pointing lower as investors await initial claims data today: 241k Exp vs. 249k last week. JPMorgan now sees a 35% chance the US economy will enter a recession this year. JPMorgan sees the Fed cutting rates by half a percentage point in September and November. Traders await wholesale inventory figures and a 30-year bonds auction of $25 billion.
Today's Economic Focus
Unemployment Claims - Forecast 241k Previous 249k
(The number of individuals who filed for unemployment insurance for the first time during the past week)
Final Wholesale Inventories m/m - Forecast 0.2% Previous 0.2%
(Change in the total value of goods held in inventory by wholesalers)
30-y Bond Auction
FOMC Member Barkin Speaks
Gold
Technicals - (December - Z)
Gold futures continue to remain constructive as futures see a series of higher lows on the daily chart. Futures see their first major support at the 50 DMA at 2422.6, followed by psychological support at 2400 down to the trend reversal point at 2398.2. Futures will need to retrace the August 6 highs of 2459.5 in order to attack the bull trade trigger at 2482.0
Gold (Dec)—Daily stochastics are correcting, indicating a lack of fresh buying. DMI + remains narrowly over DMI -, indicating the market remains more neutral in posture. The average true range (ATR) is 42.0 per day.
For Trend Traders
Bias: Neutral/Bullish
Resistance: 2482.0*** (Bull trade Trigger), 2500*** (Psychological), 2537.7*** (Contract Highs)
Pivot: 2454-2450***
Support: 2422.6 (50 DMA)***, 2400**(Psychological), 2398.2*** (Bear Trend Trigger), 2345-2350***
Silver
Technicals (September - U)
Silver futures bounce in the overnight session after testing the 200 DMA at 26.58. The Gold/Silver ratio continues to uptick with 90:1 and will most likely need a bounce in copper inorder to play catch up on the Gold market.
The first pivot is at 28, followed by the first resistance at 29.08. Traders must see a move above the 50 DMA at 29.94 to trigger ETF inflows and momentum traders.
Silver (Sept) - Daily stochastics are correcting back into oversold territory. DMI - is above DMI +, and the ADX is rising, indicating that the market is back in a correction phase. The average true range (ATR) is 97 cents per day.
For Trend Traders
Bias: Bearish/Neutral
Bear Trade Trigger: 27.975
Bear Trade Trigger Date: July 25
Trend Reversal Point: 29.85
Resistance: 28.00**29.08*** (July 25 High), 30.00***(Psychological), 29.91*** (50 DMA), 29.85** (Trend Reversal Point), 32.00-32.50****
Pivot: 28.00
Support: 26.58**** (200 DMA)
Check out CME Group real-time data plans available on TradingView here: www.tradingview.com
Disclaimers:
CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
*Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services.
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
LONGING SILVER - QUICK DAY TRADELonging silver from a pullback after strong move up. Everything you need to know about entry, stop and tp on the chart.
Silver Intraday Level 08.08.2024Hi, Here are Important intraday levels for MCX:SILVER1! .
Kindly do your own analysis/research. Proper Risk Management before take any trade.
Thanks & Regards
Long Term Silver Stacking Zone $20 to $15These line up with probable liquidity hunting zones on the monthly chart to fill in low volume notches on the volume profile and using fork extensions to estimate timing.
The bottom end of the zone is less likely around $15 because the point of control is at $16.5 and would probably tend to soak up price tests through it. But the trade idea is still valid even if the POC doesn't provide support.
The volume profile has a double distribution meaning disagreement among traders on this time frame. An exit point might be at $23 which is the next developing POC but if I stack some silver below $20 I will probably hold it for something more like $40 since silver has a tendency to produce short squeezes and shoot to the moon for a short burst and then collapse.
Also holding physical silver (probably 10 oz bars) is a nice way to get a warm and fuzzy feeling of financial security so having a bit on hand is not a bad idea.
