Silver looks bearish and ready to breakout to the downside. Other preciuos metals seem having similar destiny
Possibly and definitely maybe. At any rate, the sell off on Friday was weak with no follow through. When there's no follow through, I start thinking opposite. Note that SI open interest near annual high while GC OI at the low. Silver Seasonal low in August.
I actually used this analogy from 2002 to 2012 to lay out why silver would go up in value dramatically since it was tracing out the pattern of the technology-driven bull market in gold. If you take a moment to reach Jim Roger's chapter in Jack Schwagers book on Market Wizards, you will read all about how gold was actually driven up by technology uses of gold, much...
I've been over this dozens of times in the past. This is the trade to end all trades. It makes me laugh how people can see a stock gain 10,000% but a commodity (which doubles as REAL money) cannot gain 3000% in value? It certainly can and has made moves similar in the past. $200 is a no brainer and the bubble highs will be much higher than that.
After making a wave 5 high in April of 2011, silver has corrected back to its wave 4 Decision Point which is the tendency after completing a 5 wave sequence. If this current wave 4 DP holds as support, then the tendency is that the prior trend, which was up, should continue up. Silver looks to be bottoming and should, eventually, begin a new bull market.
Long from $19.05 with buy limits around $17.50 and $15.50 Do your own fundamental analysis. Want a secret the big players usually wont tell you? It's almost entirely about volume + momentum analysis. Aka "techs" not fundamentals. It's in the chart. I go to bed these days with take profits set and limit orders right beside them to take the trade the other...
We can move down to 20,42. Here, we have to go up, cross EMA14 and SMA200 breake out and go straight up. Long term target is 24,20
Here's where the silver market is now: After 5 quarterly bars without a new high, a downtrend is set up from the high at $49 and the movement down out of the 27-35 range reached its natural target at $18. Also, the downside price projection happened in the first bar, so the fact that the market is just marking time and going sideways is alerting me to a strong...
I have moved a substantial amount of my Forex profits over the past 3 years into silver bullion. Nothing feels better. Why do you need so much in your account anyway? Let me let you in on a little secret: LEVERAGE. if you are trading with proper money management, you will ever only need 5% of your net risk capital into any one brokerage. if you are trading at...
Short term swing idea. MACD and Bollinger Bands seem indicate more upside on this bounce in silver. I have a $20 target in mind for a 2-3 day swing.
I am looking for a $19.1~ area target to the downside. Small stop for news risk. It has broken out of range to the downside before but quickly recovered. I plan on reversing this position to a long at some point as I believe the November data will be weak and will therefore remove the possibility of a near-term taper. The horizontal yellow lines are the...
SILVER COUNT (there was a mistake in the previous count, take this one)
$SI_F $SLV Silver is working on an inverse head and shoulders formation