SILVER- Basic trend analysis shows long-term WEDGE with the high formed 2nd august 2016. the pattern was broken to the downside to then form a double bottom double bounce 13th September 2018 and 12th November 2018. Short term market structure shift with market structure break to the upside could indicate start of long term uptrend potential.
This is a very BASIC...
Much like gold, silver has been beaten down but has now broken the multi month downwards sloping trend line. Market now building a congestion zone and hasnt broken out like gold has... have to wait and see what happens, but a break of the $15 handle is key for silver then look to get long a pullback and trade the market up to $15.50 - $15.60 for 4.5 to 1 returns...
Silver since August 2014 has been trading in a range from $20 to $13, and we have reached this crucial point once again where silver is about to retest $13 and possibly break through and hit its next support of $11. We could bounce of the resistance and stay in the trading zone.
Fundamentally silver is one of the most undervalued asset on the market. I believe this year at some point we will see a breakout to the upside on silver, price is currently showing a coil pattern. The silver market is one of the smallest in the world and any significant order can cause price to move fast. I believe smart money has been accumulating long...
Silver has been moving downwards since the short price action signal on the 19-Apr and currently have 6 short positions open.
Short 20-Apr at 17.11
Short 23-Apr at 16.94
Short 25-Apr at 16.59
Short 27-Apr at 16.50
Short 30-Apr at 16.40
Short 01-May at 16.26
Initial stop at 17.4
Trailing stop at 16.55
There is nothing much to say, Butterfly bearish pattern and MACD indicates as well a downfall. Histogram doesn't show a strong downtrend. AS well we see price ranging, need some time to determine if it is a downtrend with a significant move.
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.
I believe Silver is an underrated commodity which has been now under the shadow of a correction for far too long. We remain into a very interesting lateral market for Silver, but the weekly chart indicates that this trend may finish in 2018-2019. Despite the big manipulation of some commodity price by big institutions, the price of certain assets like Silver,...
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.
In my last post on Silver I wrote that caution was required.
Now we are printing a bullish engulfing for the week - the week isn't over, but if this holds, it portends further upside.
The broadening formation over the last few weeks is bullish.
The weekly Stoch/RSI is in overbought territory, so perhaps some further grinding might be required to create some...
broke down from the trend that most would draw and assume a retracement or even bear however, even with a lower break out of the fib channel it will still be within a setup for a megaphone bull break out. Elliott wave analysis of the megaphone happened to be aligned with a 50% retracement of the December run at the end of wave 4 though this wave passes through the...