Silver - How long have you waited?Silver 30 year Cup & handle break out. Is the silver squeeze finally happening? Credit to @EdTheLorax calling it by Azzzz3
"Have you seen the Writing on the Wall?""Have you seen that Writing?" Different avenues of slaughter, but slaughter nonetheless. Same Face, different guise. 40+ year cup 'n handle? God Bless America and Israel !!! ___________________________ Longby NobuenoUpdated 3
Multi-decade SLV Cup-and-HandleIf silver breaks above its previous highs against the dollar, it could trigger a surge in investor interest, pushing prices even higher. If the WSB / NYSE:GME / NYSE:AMC deigns realize how much open short interest is on Silver, we could see a massive run to new ATHs for Silver per Oz. Pay attention to Derivatives like AMEX:AGQ , which touched close to $800 last time Silver was up at ~$48/oz in 2011. Be ready for fireworks if these shorts begin to feel a squeeze.Longby httpzUpdated 4
Decade long structure emerging on the Silver chartIt is interesting to study the Production/Accumulation/Distribution/Industrial Demand as well. Silver seems to hit a breaching point where physical prices have a premium about +45% for buying it and +20% for selling pure silver bullion coins. Troy oz./oz. is about 1.10, which should reflect a recomended trading price of 25.4$ per troy oune. Anybody able to buy at these prices? Another interesting peak that was reached lately is the Gold/Silver Ratio reaching +104 lvl's, an increadable bias for gold if you look at the ratio that existed about 100 years ago, which is 10. . In less then 6 months time this ratio is today +70. This is a technical indicator for a strong bear legg starting a decade long correction for the multi decade long bull market in favour of Gold. This is the first leg down, and there is a lot of space for continued correction, bringing the price to a 'recommended equilibrium'. Platinum as wel is comming back from an all time low Platinum to gold ratio 0.39 to the 0.6. Interestingly the platinum price is not having a ticker as far as I now that goes back for 100 years, which is the scale that the trend is carrying apparently for multiple precious metals. Chemistry table books presenting value of the pure element refer to a rule of tumb for pricing, that refered to the relative abundance of those elements before the 80's, here the Platinum over Gold ratio is documented to be 2x over multiple years, presumingly a good rule of tumb ratio of price to handle as historical mean. It's becoming clear that there is some mechanism (or a superposition of multiple mechanisms) enables the overrepresentation of 'exchangeble silver tickets'. And it is difficult to find trustworthy data on the abundance of each element to date. Especially yearly mining reports giving estimeates that are discripant over 10 years, look at a mining report in 1992,2002;2012,2022 and the quality of these estimates seem to be worthless for what the physical reality could represent. Still in search for a good dataset, one could do a basic maximum physical element estimate by taking the continental crust elementary abundance calculation on the earth being a perfect sphere, having about 40% continental crust on it's surface, the maximal depth of a mine is one in south-africa, reaching 4km deep, however the mean depth of a mine will like be less than a km deep. you could go further and eliminate regions that are definetly not minable or mined (sahara, himalaya mountains, ..) but this is in my opinion the best approach to find the global maxima for the elements that are available on our beatiful planet.Editors' picksLongby joachim.snellingsUpdated 3737562
Hi-ho silverGold was a touch firmer in early trade on Friday. Its path towards a fresh record high has certainly been bumpier than it was during the two month rally from mid-February. Back then, gold pushed ahead in a steady and relentless fashion, with a healthy period of consolidation in March. But the last month has seen some heavy setbacks which look likely to have driven out weaker hands. It looks as if a bottom was hit in early May, south of $2,300. But the rally since then has been jerky. Gold suddenly flew higher this afternoon, pushing back above $2,400. It’s still a few dollars short of its all-time high from mid-April, and we should find out if $2,400 acts as support on the next pullback. Silver has had a better month than gold so far, with strong rallies punctuated by shallow pullbacks. The area around $30 functioned as major resistance in March-April 2022, April-May 2023 and December 2023. But it surged above here earlier this afternoon. Like gold, it will be interesting to see if this significant level will hold as support on any future pullback. by TradeNation0
Silver is about to popEsteemed Members, We anticipate the possibility of silver reaching $50 by the conclusion of 2024, marking a substantial increase of approximately 75%. To delve deeper into the analysis supporting this forecast, kindly refer to the accompanying video below. Wishing you all safety until we meet again. Please remember, the information provided is not intended as financial advice. Warm regards, Lord MedzLong10:04by SkinwahUpdated 4
Silver BreakoutThere she goes. Beautiful retest of the bull flag and spike above that longer term trendline Longby AdvancedPlays0
SILVER MASSIVE MONTHLY CnH Breakout On GOING TRADEJust another range trade 32/33->42/44 CnH on a monthly SL 26 Longby trancenaari0
XAGUSD WEEKLYYTVC:DXY FXOPEN:XAGUSD In the silver weekly chart, both the inverted head and shoulders and the symmetrical triangle formations are visible, with targets outlined on the chart.Longby H-A_TUpdated 1
Silver, finally breaking 30$But I do see almost half a decade or more of sideways between 50$ and 30$ afterwards as this will be a speculative run up again with multiple assets.Longby boleroking1
silver yearlyARE YOU WATCHING THIS? #SILVER above 28$ on years close is a massive breakoutby Badcharts7
sliver makes a new highthis is very important to note the silver trade price has just made a new high for the new financial year this prices silver back goods to be priced at a higher cost . these events are important to take in a count . the fed has also began there roll out on there new price distribution system . happy trading by caylibhendricks0070
Strifor || SILVER-14/05/2024Preferred direction: BUY Comment: Against the backdrop of the upcoming news week, metals in particular are best viewed from a medium-term perspective. Here, for silver , the most likely scenario seems to be the formation of accumulation and then growth towards a local maximum of 30 exactly ( scenario №1). We also designate Scenario №2, and it is mainly necessary as a plan B in case of increased volatility, which is likely to happen. The best thing, in our opinion, would be to find a long entry point using a breakout strategy at the level of 28.69664. Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!Longby Viktor_strifor_analystUpdated 114
Silver Approaching ExtensionWe are looking at Silver approaching the extension. This is a solid area to start looking for SWING SELLS on Silver. Share your thoughts below. The ProfessorShortby TheMotivationalProfessor113
Silver long term view Silver is yet to confirm it's breakout from the 6 year bullish wedge accumulation after breaking out in 2020. Since then we've seen consolidation in the range between 20 - 30. Short term target of 36 after confirmation using the fib extension, but this, as we all know has the potential to go miles above that. A classic double bottom to wrap it all up I'm sure would take place as shown on the chart. All the best. Cheers, SkyLongby SkyTreesUpdated 228
The Price of Silver Has Reached Its Highest Level in 3 YearsThe Price of Silver Has Reached Its Highest Level in Over Three Years As indicated by the XAG/USD chart today, the intraday price of silver reached $29.84 per ounce yesterday, while the previous yearly high on 12 April was $29.79. The last time this price was seen was in February 2021. It is worth noting that today the price of silver is behaving more bullishly than the price of gold, which is approximately 1.5% below its April high. The main factor contributing to the rise in the price of silver is likely the weakening of the US dollar, as traders expect the Federal Reserve to ease monetary policy. Can the price of silver continue to rise? Analysts are generally bullish. As CNBC reports: → Saxo Bank strategists recently stated in an analytical review that the price of silver could rise to $30, while gold could soon test the $2,400 level. → Analysts at ROTH Capital Partners forecast that the prices of gold and silver will rise even higher in the coming months. According to JC O'Hara, Chief Market Technician, if the price breaks the $30 level, "there will be few resistance levels until the $35/$37 range." Let’s provide more data for a technical analysis of the silver market. The daily XAG/USD chart shows that: → the price of silver is moving within an upward channel (shown in blue); → in April, the price sharply declined after briefly exceeding the upper boundary of the channel (a sign of seller activity); → today the price of silver is again near the upper boundary, which should be considered as resistance; → the psychological level of $30 could also be an obstacle for the bulls; → judging by the RSI, the market may be overbought. Note the history of the XAG/USD chart – in 2020 and 2021, the price of silver already tried to surpass the $30 level but turned downward. It is possible that we will soon witness another bullish attempt at this important "round" price level. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.by FXOpen229