D1 - Price respected a strong support zone and is bouncing higher.
Bullish divergence.
Expecting short term bullish moves to happen here.
H4 - Higher highs.
No opposite signs.
Until the strong support zone holds I expect the price to move higher further after pullbacks.
Silver gave us two bullish confirmations, although I usually wait for at least three confirmations, our lower timeframes confirm a strong bullish signal. We are currently trading on our structural support, I anticipate it to return to our privous support, it will consolidate there before meeting our trend line.
Disclaimer
NASDAQ Guru offers general trading...
Midterm forecast:
25.75 is a major support, while this level is not broken, the Midterm wave will be uptrend.
We will close our open trades, if the Midterm level 25.75 is broken.
Technical analysis:
A trough is formed in daily chart at 23.75 on 03/31/2021, so more gains to resistance(s) 28.30, 29.85, 33.45 and more heights is expected.
Price is above...
I've made more direct notes on the chart. If the lines on the chart are broken we will see respective turns upwards or downwards. When we meet the cross-sections there will be more volatility. My overall analysis is bullish on longer term but the time estimates unless we see a larger move are in accord to the notes on the chart.
But don't take my word for it, I'm...
Following the development of the silver price since the hype some time ago it seems that we now from a technical analysis standpoint are the bottom of a longer term trend channel. From here on out my idea is that we will turn back climbing upwards towards the upper parts of the trend channel.
But hey - I'm just a TA Noob, so don't take me all to serious.
The technical level is very interesting right now, close to a break-out upwards that could go back to previous high on 29-30 and perhaps past it. I'm long.
Silver has been in a sideways descending channel consolidation for several months. Many are convinced Silver has lost its momentum and will cease to grow, we know this is false, Silver will rise and challenge its previous all-time high in the coming future. We need to see a close above the monthly pivot to initiate a shift in the current trend, followed by a...
Pinging the .38 on the 3h.
I do believe that given the state of the S&P and the American political climate, we will continue forward as money flows out of equities and into safe havens.
The horizontal lines are where we tested the 180 period MA and we look to have rejected it, for now.
Caution : Silver is notoriously manipulated by investment firms / banks /...
Consolidation could end imminently resulting in another beautiful upleg.
THE RSI elegantly pulled back on the 50 level, giving it a strong positive momentum to rise.
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