#silver mcx symmetrical triangle forming After todays gap down opening
market is trying to form a symmetrical triangle
looking for a short entry
SVF1! trade ideas
Dive into the world of options with our latest Silver analysis!In the next two options, with expiration dates on May 28 and June 25, bullish sentiment appeared on silver. Starting on April 19, the participant collected bullish spreads with construction sites 31/31.5 and 32.5/35 in his portfolio.
Based on the delta values of these strikes, these spreads can be classified as aggressive. The following is noteworthy: The position set has a systemic character, even in a negative scenario. But We cannot claim that the participant holds these portfolios without hedging.
Further monitoring of the outflow/inflow of open interest will give a hint about the participant's actions and a sentiment for further price movement.
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LOOKING FOR SHORT TRADE IN SILVERA nice risk to reward we can get here after a sharp correction market took 2% pullback now i can plan this short trade
Silver's quarterly wallIf you had any doubts about the 27-28$ resistance for silver...
More important the resistance, more important the breakout can be.
SILVER WILL BE MUCH HIGHER IN 2024Early forecast for 2024, SILVER will be MUCH HIGHER.
In recent weeks I have started to accumulate SILVER and a number of precious metals mining stocks. I believe both will be going much higher over the net year+.
Currently $23+ I believe we shall see $26+ by early 2024 followed by $30+ over coming quarters.
Silver to $38The move from March 2020 to August 2020
Was a measured move that played out to the Tee.
We have a similar structure building that projects to the High 30's
Suggesting #Gold move beyond ATH's and #Silver the beta play to move faster in an attempt to catch up, and move towards it's high's again.
Silver hitting HARD opposition at 28$.Silver hitting HARD opposition at 28$.
Silver Important Breakout Line is Also Resistance...
not a good look if the upper wick continues to grow on monthly candle
SILVER BULLISH NEXT TARGET 100860SIlver Bullish on Strong Demand
LEVEL Support 79423
Target 84480/90730/100860
Silver need a reset!Yes, I gotta put this out there...
If #Silver is to reach much higher price targets, it won't do it in an absolute straight line!
Unless you zoom out to higher time frames, where shorter term corrections can't be seen.
If you are seeking for higher price points for #silver, you should hope it doesn't SUPER HEAT now on smaller time frames.
That type of FOMO driven price action can imply more important corrections, which will require more time to heal the price chart.
Sanity Check: Channeling Silver's Recent (+ not so recent) MovesChannels are an incredible tool for technical analysis. Today we're going to put them to the test with the recent moves up in silver, as it looks like the precious metal is currently sitting at a decision point that can (still) go either way.
MEASURING IMPLICATIONS OF CHANNELS
The real power of channeling is greater than just working with a supportive/resistive trend line; there are measuring implications that are often remarkably accurate in forecasting. Once a (valid) channel is broken, tested, and confirmed to have broken, the subsequent move is usually between .5-1.0 the width of the broken channel. You can think of that .5 level as a micro channel within a channel.
Depending on this week's close outside of the bullish channel, we can safely say the weight of evidence lies in favor of bullish continuation. If that does indeed materialize, silver could have an incredible run just around the corner, especially as markets continue to price out cuts.
**Two partial retraces are circled to illustrate their significance in indicating a faltering channel. Important to note that the first circle (the bearish partial retrace) is only useful in hindsight, as the uppermost channel was not valid at the time.
If Support Breaks, Where Does Silver Go?Gold (June) / Silver (May)
Gold, yesterday’s close: Settled at 2348.4, down 14.0
Silver, yesterday’s close: Settled at 28.052, up 0.068
Yesterday’s warm CPI and weak 10-year auction paved the way for a much-needed consolidation day for Gold and Silver. Still, the precious metals complex battled valiantly, exuding bull market trends within the intraday swings. Geopolitical headlines are certainly helping to stave off indiscriminate selling, but we now look to another slate of inflation data via PPI, coupled with an ECB policy decision this morning and a 30-year Bond auction at noon CT.
Silver futures even went as far as setting a new local high after yesterday’s CPI data, but the broad risk-off undertow was just too much. Construction in Silver out above yesterday’s low of 27.64-27.76 and support aligning with Gold’s low of 2340.1-2343.1 should help fuel a bull continuation into the weekend. In the event of further weakness, we have additional levels of significant support highlighted below.
Bias: Bullish/Neutral
Resistance: 2363.7-2364.1**, 2369.4-2371***, 2380.2-2384.5***, 2400**, 2466.5***, 2539.3-2560.1****
Pivot: 2355
Support: 2348.1-2351***, 2340.1-2343.1***, 2334.2-2337.1***, 2321.7-2325.3***, 2315.7**, 2298.7-2299.6***, 2285.7-2286.2***, 2279-2281.8***
Silver (May)
Resistance: 28.15-28.24**, 28.39-28.44**, 28.57-28.66***, 28.71-28.90**, 29.22***, 29.88-30.35***
Pivot: 28.05
Support: 27.84-27.90**, 27.64-27.76***, 27.34-27.51***, 26.93-26.97***, 26.40-26.48***
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.
gold vs cpi + silverAnd guess what happened next to #silver after #gold broke out versus #inflation?
Reminder that #storylines and #narratives are land mines and traps for #traders.
Stay clear of them. Stick to the unbiased, objective evidence... #charts!
Gold and silver4.9.24 The gold and silver are trading higher with bullish price action for people who follow the metals they know that as the market goes higher the silver actually will make you more money than the gold depending on how you trade and your trade location. The problem with silver is that it is had a hard time trading above the 382 retracement... and there's evidence of sellers blocking this level in the past and you know where the sellers are from the past....
Silver Break-Out! The Next Level to Watch?We come back to the silver market where our previous article indicated a potential breakout. Now that we have seen a decisive break and close above previous major resistance, we have new hurdles to clear.
Drivers:
Partially fueled by the rally in the Gold market, silver prices have also witnessed a disconnect from traditional fundamentals such as tighter financial conditions. Silver does have many uses in industrial applications, and China is one of the largest consumers.
Recent Chinese Manufacturing PMI showed improving conditions, expanding at the highest levels in nearly a year. Stronger economic data from China will remain in focus as silver prices approach the next level of resistance.
Technicals:
As we have broken out of the near four year long wedge, we now approach major overhead resistance. To see Silver prices test $30/oz we will first need a decisive break and close above $28.30 - $28.89.
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.
75: Silver Analysis: Is it Lagging Behind Gold?Silver, often considered the "poor man's gold," has been under scrutiny lately as it seems to lag behind its more illustrious counterpart. Traders and investors are closely monitoring silver's behavior relative to gold, seeking potential opportunities amidst this divergence. Let's delve into the technical analysis to discern potential trading scenarios.
Currently, silver is hovering around the $24 mark, displaying a notable gap in performance compared to gold. This gap prompts us to consider whether silver is presenting a buying opportunity or if further downside is expected.
Long Entry Points:
Primary Entry: A compelling long entry presents itself around $23.37, where historical support levels align. This level could serve as a strong base for a potential bullish reversal.
Secondary Entry: For more conservative traders, a secondary entry around $20 offers an additional opportunity. This level provides a wider margin of safety but may require patience as price action stabilizes.
Potential Scenarios:
Bullish Continuation: If the support at $23.37 holds firm, we anticipate a bullish continuation towards $30 and beyond. This scenario would validate the long positions and affirm silver's potential to catch up with gold.
Bearish Breakdown: However, if $23.37 fails to hold, a deeper retracement towards $15 becomes a possibility. Traders should closely monitor price action and consider implementing risk management strategies to mitigate potential losses in such a scenario.
silver's divergence from gold presents both challenges and opportunities for traders. With long positions eyed around $23.37 and a secondary option near $20, traders can capitalize on potential bullish reversals. However, vigilance is crucial, as a failure to hold support may result in further downside towards $15. Ultimately, a successful hold at support levels could pave the way for a rally towards $30 and beyond.
As always, traders are advised to conduct thorough research, manage risks prudently, and adapt to evolving market conditions. Stay tuned for further updates as we navigate through the intricacies of the market. Happy trading!
Silver Weekly BreakoutYes, silver got a CONFIRMED breakout on weekly chart...
Now what?
#silver #gold #crudeoil #copper #inflation
silver break ATHsee the chart for silver green and yellow line not so strong resistance. Red line are major areas
Sliver Futures (SL1!): Feeling crazy when looking at this chartSliver Futures (SL1!): I am probably crazy to even look at this Quarerly chart.
However, it looks like it is going to break to the upside out of a huge 10-year old (?) cup-and-handle formation.
What if it is going to materialize? Are we looking at potential gains in silver as the traditional TA measurements show?
Is the chart indicating potential appreciation of silver or a decline in the vlaue of the US dollar happening at the same time?
I can't even fathom it. Can you?
Happy trading,
LTT
Silver, Long, ABC PatternCAREFULLY using SLV calls to be on upside here. Shares of SLV might be a better bet; however, if you choose calls, expect volatility. In my opinion, it will be somewhat volatile until before reaching the target -- if it does.
Silver is Next to Rally After Gold Whenever gold prices are trending higher, it hints at trouble ahead. Historically, silver always catches up later. During past crises, when this happens, this “silver shift” is very fast and furious. Its magnitude for silver is much greater than that of gold.
Video discussion:
1. One key reason why silver is lagging behind for the time being
2. Why Gold and Silver always move in tandem over the long-term?
3. Is there a bond crisis ahead?
Gold Futures & Options
Ticker: CG
Minimum fluctuation:
0.10 per troy ounce = $10.00
Silver Futures & Options
Ticker: SI
Minimum fluctuation:
0.005 per troy ounce = $25.00
Disclaimer:
• What presented here is not a recommendation, please consult your licensed broker.
• Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises.
CME Real-time Market Data help identify trading set-ups in real-time 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
