A cypher pattern formed on Silver, 4H
Price should reach green lines before the red one. Until either of lines touched the pattern is still in play. Good luck
Silver keeps failing to rise over the 28 dollar mark.
A drop back to previous support is now more probable.
Do we expect Silver to break over 28$ eventually?
The answer is yes but not while Nasdaq is dropping. That correlation is the key.
1) we have two engulfing candle , at the resistance area.
2) if the price can break below 27, we can see price can move down
3) Big resistance area at 29-30 area
4) if price break below 27 , will add short position . target area 25
Just analyzing history, silver doesn't rally up during a crash. Only after the correction. Just some planning and observation. Publish as a marker to serve my purposes.
There are arguably two historical bull markets about to start: altcoins (started, but the real fireworks are yet to come), and silver .
There's a lot of fundamental analysis about silver going around at the moment, especially with the #silversqueeze movement kicking off, and I've written some myself. Let's set the fundamentals aside for a minute and think like...
60.00
57.74
54.74
52.08
50
46.87
44.98
42.08
38.35
36.19
33.50
31.37
30.66
30.10
28.88
25.67
23.10
19.00
16.40
12.00
Who Am I To Develop an Indicator?
I must admit that once I developed these areas of Resistance and Support, I could not faithfully trade them. I had no real confidence in the levels because I created...
Market Commentary:
LEARNING ELLIOTT WAVES IS LITTLE BIT TOUGH (FOR ME IN BEGINNING) BUT I TOOK IT AS A CHALLENGE AND THAT IS NOT IMPOSSIBLE ALSO...
First have an look for the positional trend i shared here previous....if you are a follower of me...and sometimes i will share the counter trend trade also in 15 mins and 1hr...but that is risky ones...so if the...
This chart shows the recent trend of increasing interest in the silver ETF PSLV (managed by Sprott Inc) vs. SLV (managed by Blackrock with JPMorgan as the custodian).
Volume ratio is normalized by ounces per share, so it is the ratio of silver traded for each ETF
PSLV is the preferred fund for the Reddit group wallstreetsilver and most people in...
silver looks like it is forming an ascending triangle.
there is also a macd cross on the weekly chart.
Last time we had a weekly MACD cross silver moved from 17-30$ in the summer.
Silver will launch this week. COMEX deliveries on Feb 24th
Since silver has a strong upward force, the possibility of running flat correction is very high. When this correction is completed, a strong monthly support key level will be created. If you're thinking about buying, you must take a chance.
I expect to hit the high next week and go down again to break the low in January. This high point is a new weekly...
Currently, Silver is approaching a power pivot point. This is where the price hits the next wave check point and the potential for a significant move higher or lower is likely. Indicators are all green and the 2 week chart is a fantastic timeline for gauging long term trend. Monthly is similar.
There's a lot of long term cycles coming to a junction suggesting...
