Sell Levels 16.920/16.640 Buy Levels 17.02/16.73
Silver is in a downtrend, looking for the correction near or after the elections
It is what I am expecting
Long silver to $25. Bull divergence on the RSI. Silver is both an industrial metal, as well as safe haven.
Xagusd (Bulish Pin bar)at suport level
As shown, Spot Silver on the daily chart is trading near crucial support at 15.85-16.00 (Horizontal support). Daily chart shows double positive divergence. Also, Dow theory sell confirmation would be only below 15.85. In a nutshell, as long as above 15.85, one should look for a reversal sign to go long with strict SL. Risk-reward looks awesome here!
I've noticed a key are for silver has now been broken and we are still above the price of 16.800. This coincides with our 61.8% fib re-tracement and we are still creating higher highs. Price is also now above my weekly support zone and I do believe Silver may push through possibly back up to the 17.800 area. We have my weekly resistance at 17.200 which I believe...
From 13.51$- Silver completed its 1st wave at 20.81$ & has been doing very choppy move since that top & most likely to complete this correction at 61.8% of 1st Green Wave in the zone 16.20-16.30 $ range -if that zone holds then most likely Silver should move sharp upside. Gold -looking for 1300+ Move in coming days Gold pushed 100$- but later as it evolved &...
We are currently in a strong bull channel for silver, leading towards $20. I still believe silver will be the stronger performing PM by % over the next few months. Although we ended in the red today, the fact that there was such strong support at the $18 level is a very good sign for bulls. MACD is looking to cross here on the 1D.
This is an update to the revision of my Silver analysis a small month ago. I will try to do more frequent updates from now on. Yesterday's and today's price action leaves, in my opinion, zero doubt that we left behind a long-term market bottom. I think the large ABC correction is behind us. The market found support at the trend line that was established earlier...
I made the poor choice (captain hindsight), to long silver miners (point A) instead adding to some of my fav gold miners (AEM/BTO). My rational behind this was I truly believed that silver had bottomed at the $17 level (which has proved to have been correct so far), and that it would bounce back over $18 in the next few months (which it is still on track for). I...
Downtrend since July with huge drop in October price is choppy at the moment, maybe nice time to short with the current pullbacks forming on daily and 4hr charts. Maybe price will touch 17.700 then drop again? on the watch list for sure.
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Potential long here, however strong bears currently so could well break through and head towards 16 port of area.
Can anyone help with this? I am just trying to learn: do you think it's reasonable to say that looking at MACD orientation, and RSI overbought, silver will go further down, or at least not break up through the triangle (as I expected) ? What's your opinion? Thanks!
Silver seems to be in the final E leg of that 4th wave triangle pattern (ABCDE). I take the surge we saw this Friday to be a B inside an ABC correction. The final C leg can go as low as $18,50, but I do not think it will go that low. Note that the orange in the chart constitutes the highest scale, followed by white and green. Settling above the $20 mark is a...
Silver has managed to cross the bear-market line and it is now also working to break the ICL neutral line. Sustaining above the red level officially put silver in a bull market and it will lead the way for gold into the official bull market. This will lead to a rally in silver. Then one can say that the bull market in precious metals is officially "ON" and say...