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SIU1! trade ideas

SI1! ( Silver Futures ), H4 Potential for Bullish ContinuationTitle: Silver Futures ( SI1! ), H4 Potential for Bullish Continuation Type: Bullish Continuation Resistance: 24.775 Pivot: 706.50 Support: 23.140 Preferred case: Looking at the H4 chart, my overall bias for SI1! is bullish due to the current price crossing above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to possibly head towards the resistance at 24.775, where the recent high is. Alternative scenario: Price may head back down towards the support at 23.140 where the 38.2% Fibonacci line is located. Fundamentals: There are no major news.
COMEX:SI1!
by Tickmill
Silver hit our target and ready for the next rally to $27.00 in 2022, Silver hit our target price of $24 this was due to a break up and out of a Triple Bottom (3 Rounding Bottoms). Now we see a new Bullish Diamond formation on Silver. We just need to wait for breakout Target $27.00 Fundamentals: Analysts predict that gold and silver will perform well in the new year as the Federal Reserve is expected to cut interest rates in the second half of 2023. This is due to the belief that a recession is imminent, which will reduce inflationary pressures and lead to falling interest rates. Chief North America economist Paul Ashworth of Capital Economics stated that despite the Fed's current hawkish stance, they still expect interest rates to decline by the end of 2023.
COMEX:SI1!Long
by Timonrosso
SI1! ( Silver Futures ), H4 Potential for Bullish ContinuationTitle: Silver Futures (SI1!), H4 Potential for Bullish Continuation Type: Bullish Continuation Resistance: 24.775 Pivot: 706.50 Support: 23.140 Preferred case: Looking at the H4 chart, my overall bias for SI1! is bullish due to the current price crossing above the Ichimoku cloud, indicating a bullish market. If this bullish momentum continues, expect price to possibly head towards the resistance at 24.775, where the recent high is. Alternative scenario: Price may head back down towards the support at 23.140 where the 38.2% Fibonacci line is located. Fundamentals: There are no major news.
COMEX:SI1!Long
by Genesiv
Short Silver MiniA bearish rising wedge pattern breakdown is seen at double top in Silver Mini. Multiple breakdowns of important support levels indicate a bearish movement in Silver Mini. Silver Mini Prices have reversed exactly from the multi month double top horizontal line resistance, rising DMA breakdown, and brearish rising pattern and wedge both breakdown, MACD also showing negative crossover with histogram below zero line, and RSI is also showing contiuous negative divergence in the daily time frame. Future data also showed a short build up along with open and high being the same. All these parameters indicate a downward trend. it can fall to 66000-65000. Stop loss 69760-69800, holding duration 2-3 trading sessions only.
MCX:SILVERM1!Short
by TraderRahulPal
4
Silver short term pullback and long term bullishSilver had a pretty good run since mid October 2022 after months long of price consolidation. It has been moving in a upward parallel channel since mid November. It has hit a key resistance level at $24.5 (Red Line) and failed to break out multiple times since Dec last two weeks.. Today the lower channel line got breached and if fails to get back into the channel , I see Silver might test the $22.38 support level near term and consolidate sideways for some time to build momentum. Failure to hold the $22.38 level will take it to $20.8 support level. If Silver manages to get back into parallel channel and break $24.5 resistance level, next target would be $26.3 Let me know your thoughts in comments.
COMEX:SI1!
by gmaster29
Silver is gearing for a move up, but is it ready?Silver had a huge move up in 2020, but that was all it managed to do back then. Since its first significant peak in August 2020, it went sideways and started declining. Silver was in a big bear market since 2011, then entered an accumulation range, and then had its capitulation move in March 2020. Then with all the fiscal stimulus, it skyrocketed, but most capital flowed into crypto and stocks, not precious metals. As inflation remains high and interest rates could be near their peak, and investment in metal miners has gone down a lot over the last decade, this precious metal that seems to have lost its shine might be ready to shine again. It looks like silver had a very healthy pullback into the top band of its accumulation range. Now resistance seems to have turned into support, and the market could head toward 24$ in the next few months. The truth is that I don't believe that the market has fully bottomed yet, although it could very well have, and that eventually, it will have on final leg down towards 16$ and bottom there. The main reason I think that has to do with how the market bottom is that there are two double bottoms around 17-18, and there is a little 'gap' at 16. Essentially I would like to see the market test 16$ because I want to see it thoroughly test that untested breakout, the Yearly S3 Pivot, and the Volume Profile Point of Control. Another reason that I think the market will go down there again is that I expect a major deflationary episode to take place in 2023, one that has the potential to create a liquidity squeeze (risk asset collapse) that would affect precious metals too. In my opinion, the current move up in Gold, Copper, Silver, etc., mostly has to do with low production/inventories of metals, while demand seems to have bottomed in the short term. Eventually, the market will get crushed again, but I think the bounce has legs for now. Therefore it would make sense to look for longs in the 16-20$ zone and take profits in the 21.7-24$ area. Shorting 24$ might be a good idea, but I would prefer to watch how the price action develops before I step in.
COMEX:SI1!
by BitcoinMacro
Silver Seasonal PlayThe March Silver contract has been trending higher since the bounce from the November lows, continuing to hold trendline support achieving higher lows. There is a great seasonal in play, as the March Silver contract has traded higher 14/15 years from December 20th-February 18th. This does not guarantee the market will perform this year, but Silver is already up over 3.5% on today’s session, and the chart is looking great for upside potential if it can breakout above the December 13th highs. The downside risk comes if we break below the trendline support, and then look to re-test the gap from November 30th.
COMEX:SI1!
by Ryan_Gorman