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SILVER1! trade ideas

Silver: JumpyWhile bears aren’t normally known to be jumpy, the bears on the silver market have just shown signs of scariness. They must have been so focused on their way downwards that they didn’t realize how close they had already come to the support at $21.98. Although they have shrunken back from this mark, we expect them to pick up courage again quickly – after all, they have been so strong and composed lately. So, the bears should push silver below $21.98 and towards the orange zone between $20.91 and $19.59, where wave iii in orange should end. Then, a countermovement should lead silver back above $21.98, where it should finish wave iv in orange before resuming the overarching downwards movement.
COMEX:SI1!
by MarketIntel
$SLV Long 50 JUL callsWent long 50 JUL SLV 23.5 calls. Nice looking chart and I like the R/R on a move to at least the top of the box. Will reduce the position there and manage on price reaction. Mental stop just below 30 wk MA. Nice consolidation with accumulation type buying, cup and handle with a good retrace from the JAN to MAR move, I think it's going for next leg higher. A break above the box should expect a massive move, as this has been digesting since AUG 2020. If calls go farther ITM may sell bi-weekly calls against them to reduce my cost basis, playing it day by day week by week. Miners and Metals look good overall, many above 30wk MA. Cheers
COMEX:SI1!Long
by FriscoTrades
Silver Futures ( SI1!), H4 Potential for Bullish BounceType : Bullish Bounce Resistance: 23.870 Pivot: 23.280 Support : 22.875 Preferred case: Price is near to the key pivot level. We are expecting the price to potentially bounce off from our pivot level of 23.280 in line with 138.2% Fibonacci extension towards our 1st resistance level of 23.870 which is in line with 23.6% Fibonacci retracement. Alternative scenario: Otherwise, the price might break our pivot structure and trigger a dip to the 1st support level of 22.875 in line with 161.8% Fibonacci extension, 100% Fibonacci projection and -27.2% Fibonacci expansion. Fundamentals: No major news.
COMEX:SI1!Long
by Genesiv
Silver Futures (SI1! ), H1 Potential for Bearish DipType: Bearish Dip Resistance: 26.415 Pivot: 26.160 Support: 25.835 Preferred case: We see the potential for a bearish dip from our pivot at 26.160 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection towards our 1st support at 25.835 in line with 61.8% Fibonacci retracement and 100% Fibonacci projection . Alternative scenario: Alternatively, price might break our pivot structure and head for 1st resistance at 26.415 in line with 78.6% Fibonacci retracement and 100% Fibonacci projection . Fundamentals: No major news.
COMEX:SI1!
by Tickmill
Silver Futures (SI1! ), H1 Potential for Bearish DipType: Bearish Dip Resistance: 26.415 Pivot: 26.160 Support: 25.835 Preferred case: We see the potential for a bearish dip from our pivot at 26.160 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection towards our 1st support at 25.835 in line with 61.8% Fibonacci retracement and 100% Fibonacci projection. Alternative scenario: Alternatively, price might break our pivot structure and head for 1st resistance at 26.415 in line with 78.6% Fibonacci retracement and 100% Fibonacci projection. Fundamentals: No major news.
COMEX:SI1!Short
by Genesiv
Silver in the Channel Published an earlier version of this idea with more poorly drawn corridors, but it seems for the most part to be validated for the time being. I expect silver to challenge recent highs and potentially cool back down toward mid 20s once that happens (before moving up further). However it is entirely possible that once silver reaches these targets that it simply continues to tear through them - it depends on other factors, but regardless, I am LONG. I think metals, and silver especially, will be rising moving forward both in the short, medium, and long term. Inflation is only beginning, monetary conditions are changing worldwide and the financial system is on the brink of a paradigm shift. Out with "old" thinking and in with even older thinking! Post Script: I'm a noob here, so apologies for any miss-steps.
MCX:SILVER1!Long
by VisionInClarity
Silver: Tenacious B 🐻The rock band “Tenacious D” consisting of Jack Black and Kyle Gass must soon face competition, namely from “Tenacious B”. The bears on the silver market have rightfully earned this name by perseveringly dragging silver further down despite recurrent countermovement. The expression “to bear up” doesn’t exist for nothing, after all! We expect the bears to keep going and to lead silver below the support at $21.98 and into the lower orange zone between $21.39 and $20.27, where wave iii in orange should end. The following countermovement in wave iv in orange into the upper orange zone between $22.90 and $23.52 should serve as a booster for the greater downwards movement, which should then continue below $21.98.
COMEX:SI1!Short
by MarketIntel
Title: Silver Futures ( SI1! ), H4 Potential for dip! Type: Bearish dip Resistance : 25.065 Pivot: 24.8 Support : 24.230 Preferred case: Prices are consolidating in a triangle pattern . We see the potential for a dip from our Pivot at 24.8 in line with 78.6% Fibonacci Projection towards our 1st support at 24.230 in line with 61.8% Fibonacci Projection . RSI is at levels where dips previously occurred and prices are trading below our ichimoku clouds , further supporting our bearish bias. Alternative scenario: If prices were to continue their rally, they can potentially reach our 1st resistance at 25.065 which is in line with 127.2% Fibonacci Projection . Fundamentals: With inflation and war tensions might result in a fundamentally upwards bias on the pair. As FA and TA are in conflict, we would advise investors to be prudent in trading the precious metal.
COMEX:SI1!
by Tickmill
Title: Silver Futures ( SI1! ), H4 Potential for dip! Type: Bearish dip Resistance : 25.065 Pivot: 24.8 Support : 24.230 Preferred case: Prices are consolidating in a triangle pattern. We see the potential for a dip from our Pivot at 24.8 in line with 78.6% Fibonacci Projection towards our 1st support at 24.230 in line with 61.8% Fibonacci Projection . RSI is at levels where dips previously occurred and prices are trading below our ichimoku clouds, further supporting our bearish bias. Alternative scenario: If prices were to continue their rally, they can potentially reach our 1st resistance at 25.065 which is in line with 127.2% Fibonacci Projection . Fundamentals: With inflation and war tensions might result in a fundamentally upwards bias on the pair. As FA and TA are in conflict, we would advise investors to be prudent in trading the precious metal.
COMEX:SI1!Short
by Genesiv
SILVER potential for dip! | 8th April 2022Prices are consolidating in a triangle pattern. We see the potential for a dip from our 1st Resistance at 25.065 in line with 127.2% Fibonacci Projection towards our 1st support at 61.8% Fibonacci Projection. RSI is at levels where dips previously occurred. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
COMEX:SI1!Short
by Genesiv