coreymurphy7288

coreymurphy7288

We all seen the ascending wedge that Silver has created over the last year. This chart just gives extra validation to the trade idea with several other sub-indicators, that eventually we are going to break up from here and re-challenge $30 in next few months. First I have the falling wedge patterns in black. It is a typical bullish reversal pattern, at its...

coreymurphy7288

Been stacking at the lower levels, but hoping markets breathe a sigh of relief after the election, causing a dip in Silver to around $21. After that, should be on a tear to $47 over the next year or so. Silver of course DOESN'T have to dip to go to $47, just hoping it does for a good buy opportunity.

coreymurphy7288 Updated 

The Green Neckline @$26.50 is the major resistance at the moment. Breaking it would signal huge upside potential. Depending on how long this consolidation is, if less than a 6 MONTH consolidation, the pattern most likely will be for $35.00 an ounce, $10 gains. if the consolidation is for more than 6 MONTHS, a long term Inverse head and shoulders will have...

coreymurphy7288 Updated 

Two different bull patterns. 1st the falling wedge in blue, which has completed its full 5 count now, after a false breakout last year. The second pattern is a triple bottom in Red. Target price for the blue falling wedge is $25 an ounce. The red triple bottom is $28 an ounce.

coreymurphy7288

70:1 GOLD/SILVER ratio is the average ratio when silver is treated as an industrial metal. However, if you believer Silver will be receiving monetary investment demand, like Gold has been, then 70:1 may become the neckline for a much more aggressive silver price and a ratio closer to 20:1 in Silver's favor. That means if Gold hits $3,000 an ounce like Bank of...

coreymurphy7288 Updated 

Main street still not waking up to what the big boys in gold are doing yet. When they do though, Silver is where the action will be. Gold:Silver ratio targeting 125:1

coreymurphy7288 Updated 

Wedge breakout indicates a price target of $1,680.00 Gold has closed right below resistance line $1,520. Safest bet is to wait for retrace to $1,400.00 before entering long. Bigger opportunity from there is breaking the $1,520 resistance line for a higher price target of $1,850.00

coreymurphy7288 Updated 

Silver is on the cusp of very bullish move! Buy: $16.60 Stop: $15.90 Target: $25.25

coreymurphy7288

Silver sits bullishly above the 18 month moving average and is in a strong demand level at $17.50-$17.25. bullish price action should continue after technical consolidation completes and bullish pennant pattern breaks out.

coreymurphy7288 Updated 

A pullback to $17.50 for a 2nd and last retest of lower channel would be solid for continuation. Once break $18.50 after that, hold on for $20 an ounce and higher.

coreymurphy7288

Bullish Potential in Silver. 18-Mo. MA Support- $16.80 Channel Support - $16.92 Bullish Wedge Formation 1st Resistance - $17.06 Target Price - $25.50 Tight Stop Loss - $16.70

coreymurphy7288

Entry Point- @ $17.00 Price Level Support - @ $17.00. Channel Support - @ $ 16.90 Stop Loss- @ $16.69 5 Month Target Price- $20.50 To me, a good risk/reward ratio at this level. Will know in short term if a good buy or not depending on strength of channel support.

coreymurphy7288

After a 3 month corrective move down, and hitting its down side target price of Broadening Wedge, silver seems to have found the support it needed with a retest of very important area of $16.60, and bouncing back above $17.00. Would be a great place to enter long, and keep a stop below the last low at $16.60

coreymurphy7288 Updated 

Broadening wedge, with a target price calculated as 60% its broadest point subtracted from the area of the pattern breakdown, gives Target Price of $16.70. A secondary pattern that following the upward trendline (in black) also has a target price of $16.70. I would pre position with a buy at $16.75 and keep a stop loss below $16.30.

coreymurphy7288 Updated 

Triangle Break on BTC. Look for a retest at $9,300 to take short position or just look for a decent bounce.

coreymurphy7288

After a $1.50(+) smash in the price of silver, silver is setting up for its next move, (potential H&S). While technically not confirmed, I suspect the following price action with the Price Gap at $17.40 and with scheduled trade talks with China set for October, causing risk on in markets. Potential areas to short from is $18.50, or daily close below $18.15 If...

coreymurphy7288 Updated 

Dow Jones is suffering under heavy selling pressure, challenging key supports. First Support at 25,400.00 Once Broke, will confirm price target of 23,000.00.

coreymurphy7288 Updated 

The immediate short term target price of 4 month consolidation is $15.85. Larger patterns suggest Secondary Target of $18.70