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ETrades1
May 11, 2021 8:42 PM

$SLV $XAGUSD Silver's next leg higher Long

SILVER (US$/OZ)TVC

Description

The current structure in Silver resembles it's price action prior to the 70% advance last year. $40 target
Comments
jonasbrothers3000
Good ovservation
catzineco
Yep, looks similar indeed; maybe the fundamentals are way more bullish for SILVER THIS time CONSIDERING that it's uses have multiplied, there is not much being produced and the economic situation caused by COVID...

If this flies, I bet it will fly harder, faster and further than the last time
ETrades1
@catzineco, not focused so much on fundamentals, but on the daily I really like that rising 200 day EMA and how close the price is to it, it tells me silver has room to extend (also very similar to setup last year) and if you zoom out to the monthly candle chart you see that big move up last year was really just the flagpole and since then we have been in a relatively tight consolidation, the summer months are usually bullish for precious metals so lets see what happens
catzineco
@ETrades1, Time will tell my friend!
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