1H Silver Chart, using Elliott Wave and Pitchfork Tool
Long silver to $25. Bull divergence on the RSI. Silver is both an industrial metal, as well as safe haven.
As shown, Spot Silver on the daily chart is trading near crucial support at 15.85-16.00 (Horizontal support). Daily chart shows double positive divergence. Also, Dow theory sell confirmation would be only below 15.85. In a nutshell, as long as above 15.85, one should look for a reversal sign to go long with strict SL. Risk-reward looks awesome here!
I've noticed a key are for silver has now been broken and we are still above the price of 16.800. This coincides with our 61.8% fib re-tracement and we are still creating higher highs. Price is also now above my weekly support zone and I do believe Silver may push through possibly back up to the 17.800 area. We have my weekly resistance at 17.200 which I believe...
From 13.51$- Silver completed its 1st wave at 20.81$ & has been doing very choppy move since that top & most likely to complete this correction at 61.8% of 1st Green Wave in the zone 16.20-16.30 $ range -if that zone holds then most likely Silver should move sharp upside. Gold -looking for 1300+ Move in coming days Gold pushed 100$- but later as it evolved &...
A big big HS pattern.... Time will show
We are currently in a strong bull channel for silver, leading towards $20. I still believe silver will be the stronger performing PM by % over the next few months. Although we ended in the red today, the fact that there was such strong support at the $18 level is a very good sign for bulls. MACD is looking to cross here on the 1D.
Put my rough idea for Silver trend here, will update weekly, just for trend study/follow up. On the other hand, I want to get some guide/indication/clue from it for my daily trade, coz the long/mid term direction recognition could give better guide to the daily trade. Do the correct thing at the proper time is the most important thing in trading world. Of course,...
This is an update to the revision of my Silver analysis a small month ago. I will try to do more frequent updates from now on. Yesterday's and today's price action leaves, in my opinion, zero doubt that we left behind a long-term market bottom. I think the large ABC correction is behind us. The market found support at the trend line that was established earlier...
My thoughts are written in the chart! Like if you agree, support and follow please!
I made the poor choice (captain hindsight), to long silver miners (point A) instead adding to some of my fav gold miners (AEM/BTO). My rational behind this was I truly believed that silver had bottomed at the $17 level (which has proved to have been correct so far), and that it would bounce back over $18 in the next few months (which it is still on track for). I...
Downtrend since July with huge drop in October price is choppy at the moment, maybe nice time to short with the current pullbacks forming on daily and 4hr charts. Maybe price will touch 17.700 then drop again? on the watch list for sure.
Aurcana Corporation is a Vancouver-based company whose shares are listed for trading on the TSX Venture Exchange (AUN.V). Aurcana owns the Shafter Project, a silver deposit located in Presidio County, southwest Texas. The Shafter Project was advanced and substantially built prior to being placed on care and maintenance in December, 2013. vimeo.com The...
This is a revision of the previous analysis that I did on Silver. Let me start off by making clear that I am still very much a bull on Silver. The price action looks very impulsive since the start of this year and does not really fit in the price action of the multi year bear market before that point in time. Therefore I revised the wave count to give you some...
Silver seems to be in the final E leg of that 4th wave triangle pattern (ABCDE). I take the surge we saw this Friday to be a B inside an ABC correction. The final C leg can go as low as $18,50, but I do not think it will go that low. Note that the orange in the chart constitutes the highest scale, followed by white and green. Settling above the $20 mark is a...
XAGUSD is in a possible 4th wave in an impulse Elliott wave series. This correction has potentially run its course indicated by the high level RSI. I will watch for the correction to either continue to the upside or begin the 5th wave and immediately retrace down to the 1st trend line. If it is indeed in an impulse Elliot wave, then it should continue its decline...
Use a small amount of capital because this is a long position. The TP and SL are there, so first thing on Tuesday (Because of bank Holiday) Short silver long term downtrend did face resistance but price is touching 50EMA right now so this shows price is going back to normal!
The SOLID GREEN LINE will provide a historical support for SILVER. But also if you see the SOLID BALCK LINE around $30 may act as a resistance line. Also the DOTTED GREEN AND RED line is a possible channel trading in coming days/months. Silver is a overall BUY for next few months.