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 &...
Another Leg Up in Silver is Coming with The Target of $23, Buying Can be initiated around $16.5, Dollar is Showing a big selloff in monthly charts which will fuel this rally, Technically it has retraced back .61 from initial rally, and it looks like a fair level to reenter.
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...
I'm waiting too see a 1 hour close above this triangle / pennant formation before going long, I can see this next rally surpassing the previous upper trend line.
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vimeo.com
The...
This is a revision of the previous analysis that I did on Silver. Let me start off by making clear that I am still very much a bull on Silver. The price action looks very impulsive since the start of this year and does not really fit in the price action of the multi year bear market before that point in time.
Therefore I revised the wave count to give you some...
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...
XAGUSD (Silver/ US Dollar) it's struggling in a monthly resistance at this moment, overall this pair has been bullish since 2010 so I would like to see it breaking out that resistance, re-testing it and then continuing its' bullish trend.
We'll see what happens.
Any comments?
Ok I think XAGUSD is going even more up than it already have gone so far.
First of all, that inverted head and shoulders which later confirmed a bullish scenario strong enough to return and break into the previous uptrend, so if does a re-test in which I'm expecting to see a morning star then I'd say is a BUY.
Any comments?
Buy at support with a tight stop at the low indicated by the arrow.
Realistically, I suspect you would take a lot of risk off in the high 20s and let the rest run longer term.
FOMC minutes would be the likely catalyst for a move up or down here.
