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Looking like a build up of orders waiting to get filled into the market for Silver at around the 16.00 area. Although this would most likely be for the short term as sellers look to be waiting at around the 17.20 area keeping price contained within the channel.
Retraced all the way to the .786 level, broke out of a massive downtrend line AND made a higher low before going sideways. Fiat inflation steering people to hedge into gold/silver once again?
So, is it silver's time yet?
Silver looks to be breaking out from its short term downtrend. This will have long term ramifications on the gold and silver bull run. Expect much higher prices for both Gold and Silver by year end. Silver especially will be very volatile. Load up on silver miners as they will benefit the most from this.
Gold/Silver ratio looks to be topping out against strong resistance levels. This should see the trend reverse quite sharply as Silver is incredibly volatile. Should therefore see much higher silver prices in the latter stages of 2018.
I spotted the AB=CD correction pattern on the Silver chart and built out this idea around it. I will post some more images in the comments which give more context, but essentially it seems that we are about to being wave 3 of 3 (a powerful impulse wave) in a bullish wave cycle. This wave cycle seems to be moving away from a long-term low, so could end up ...
Silver has been on some what of a down momentum for a while, potential for a build up of orders in the area of 15.50 for a Long Trade
Long setup for silver with negative news being released earlier today can see the pair break the .618 resistance. Once/if it does expect it too shoot up. Rising wedge put in with all the higher lows, will wait for break and possibly add to position.
1.Daily Support Broken
2.Trendline on daily valid
3.Profit margin 1:3
4.Below middle ma band showing signs of weakness
1.Daily Trend-line broken (uptrend)
2.Resistance broken support valid
3.Profit margin 1:4
Major resistance zone/area breached which indicated bears have capitulated to the strength of the bulls, which also shows us who is in control of the market. Based of two strong confluences which is opposing force breached and trend-line break to the ...
SILVER on H4 shows recently very strong declines. Price reached level of one of the earlier lows. It seems that now a correction should occur. Support should therefore serve at least to a short-term rebound. So in the short term, you should consider long position.
I think silver may be in the C leg of a wave 2 on the weekly chart. Looking bullish perhaps in the next few month / end of the year.
Anyone got simular ideas?
Silver may have completed a substantial correction (ABC) pattern. A weekly completed corrective flag may confirm the start of substantial gains for silver. Watch this space.
Looking for a long position on Silver for inverse H&S and breakout of downward channel
Silver trading around months low if hold above 15.5 we can see toward 16.5-17
Advice buy in small range 15.8-15. sl below 15.4 TP 16.5-17
Potential long here, however strong bears currently so could well break through and head towards 16 port of area.