Hello,
similar to gold, in my opinion silver is shortly bevor a historical turnaround, signed with a blue tradingbox in the chart above, which can be used to place longorders. Now we should prepare for it. Why should we believe in that? Because of the sentiment, which is worse than at the end of 2015 as silver built a superordinate bottom (corrective wave 2 form...
Red triangle held in both directions - first a false break high and then a major bull capitulation which was held at the bottom. The price is now back at the monthly pivot and within the blue parallel channels (coiled area) on my chart. Am initially looking for a move to the top of the blue parallels and then subject to it breaking the top of the red triangle and beyond.
Very narrow range getting increasingly narrow. Extreme move coming.
I'm looking at GOLD and Dollar for the clues & probably FOMC is the catalyst but Silver might be the trade to play rather than the other two.
Silver is on a strong support and there is a slight upward momentum. The cypher is a profitable pattern with a success rate of 75%. If point D is confirmed then watching for bullish price action.
There is nothing much to say, Butterfly bearish pattern and MACD indicates as well a downfall. Histogram doesn't show a strong downtrend. Maybe we can see a price retracement ?
We have seen a recent bullish move on silver breaking a downward trendline, and if you scale back to a weekly view there is plenty of scope in the RSI to keep this move going.
HOWEVER we also have a band of resistance at $18 which has been prior privot support and resistance areas. The price is unwilling to move above this level just yet and despite the bullish...
It is always worth a look at the gold-silver ratio. Currently, gold is 76 times more expensive than silver (per ounce). In the past, it has been shown that the area above 78 is an extreme area and can be used for trades. In this case, you would sell gold and buy silver.
Retaken the rising trendline which was recently lost. Not yet consolidated above it, but there looks strength here to push back towards the $17 region where I think we will see some resistance from that Fib line.
Pretty similar set of two complete waves over approximately same timeframe 2016 and 2017. Retraced almost fully 61.8%. If we are in for a repeat of 2016, the third move up is a big one.....
Funds holding a record long in #silver after three weeks of heavy buying. Silver traded 9% higher when it hit the previous record last July. $1850 is the level to break.
Currently sat on the 50% line from July high to December low.
Watching for a full daily close above this level & will look to go long from there. The earlier 50DMA break in this rise often signals much bigger moves....
Silver Prices have been followed for centuries. Silver is a precious metal used in jewelry, silverware, electronics, and currency. Silver prices are widely followed in financial markets around the world. Silver has been traded for thousands of years and was once used for currency backing. Silver continues to be one of the most commonly traded commodities today. Silver prices are highly volatile due to speculation and supply and demand.
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
SI1!
