SILJ has clearly broken out...it is approaching the 200MA on a weekly TF (Red MA)...expect a reaction at this level...may want to take some off around this level...perhaps a decent pb...a chance to reload if you ask me!
The ratio of SILJ (junior silver stocks)/URA( uranium stocks) has reached its A-B-C target and double bottom area.
It is also showing a bullish divergence on its momentum indicator.
We like very much the uranium sector over the long run but are expecting an out-performance of silver stocks over the coming months.
Look carefully at this Silver Junior Miners chart.
What is the MAJOR difference in those 2 trade setup propositions, other than what I already outlined?
Which is MOST probable of reaching its target AND why?
#trading #learning #miners #riskmanagement #silver
Back up the truck !
SILJ "C" wave completion with gap higher above minor "X" .
I believe we are in the initial stages of wave 3 here .
I like most of the companies held in this ETF .
Silver and SILJ chart on the 3Day time frame.
Silver looks to maybe have one more pullback or it'll start breaking above trendline.
None of this should be interpreted as financial advice, I am not a professional or certified financial adviser! all charts, and or analysis' are my personal opinions and observations only!
On high timeframes, we seem to be continuing the trend of forming lower highs. The rejection of price at $15.49 gives me the setup I was looking for to think $SILJ is going lower.
On top of the rejection, the RSI is overbought, the moving averages on ichi are stretched with price above the moving averages giving me reason to believe price will snap back lower,...
This chart shows two possibilities of interpretation: a bullish case drawn in yellow and a near term bearish case drawn in red. I found the concept quite aesthetic. On a personal note, Team Yellow.
I posted earlier to day that I think the major pivot for silver is now in...likewise, I expect a major move for SILJ....we should be starting wave 3 of the submicro wave.
Want to make like 5x plus on your investment really soon...long SILJ. I expect silva (XAG) to more than double over the next 6 months....SILJ should 2-3x that move in XAG....
