Bearish Cycle Corrective Wave in Silver

TVC:SILVER   CFDs on Silver (US$ / OZ)
The Seven Year Cycle Bottom should have been in December of 2015. If we drop below that level here, that implies this seven year cycle in Silver will be bearish with a lower, low in 2022. The implication would be that a much longer term cycle will have ended, and a very long term Bull market will start. This makes rational sense because the statistics show that everybody is Very Bearish based on their trades, and the Fundamentals scream massively higher prices.

Recommendation: Sell the House, Sell the Car, Sell the Furniture, Rent out the Wife & Kids, so you can back up the truck and Buy, Buy, Buy, Double Fisted!!! I’m telling you folks, this ones going to be a 100 to 10K multiple of return (not %) opportunity of a lifetime… Any day now… ;-]


Weekly bullish engulfing candle for Silver, haven't seen this since 04th April 2016 when the price went from 15.39 to major resistance at 20.70 within 13 weeks
Cincinnatuus iminlovewithscarlett
@iminlovewithscarlett, back then Silver had already put in a nice base and already was moving up, correcting in the second of five waves up. This sell off has yet to put in a base, probably in, around and below that December 2016 low in the 13.60's. I wouldn't get too excited yet. It needs to "Show Me the Money!" before I put real capital into this market... Better buying prices to come, so keep your powder dry. There, that's all the platitudes you get for today. ;)
@Cincinnatuus, A bullish engulfing pattern is a bullish engulfing candle and is especially important on the weekly or monthly, it reverses the previous trend, i'm not shooting for the exact low, the turnaround in silver is coming, all in the charts
Cincinnatuus iminlovewithscarlett
@iminlovewithscarlett, A bullish engulfing candle is only a potential reversal. It would need to be confirmed by higher price action in the following equivalent time period. Looking at the amount of inertia the Silver market is trading down with relative to this relatively weak correction back up, I'm not seeing it. You are right to buy here and accumulate. Dollar Cost Average into a position, especially if you have money parked in a bank earning 0%. The bottom is only a couple bucks lower by my estimation.
@Cincinnatuus, True what you say about potential but DXY and also EURUSD have also made weekly engulfing candles a couple of weeks ago and DXY is setting up for a bearish engulfing candle on the monthly. Silver may hit its major support at 13.70 but I think if it does it should spike fairly swiftly, good charting however you play, thank you for your comments, appreciated.
Silver and "The Commitment of Traders Report"
Sharing one more very good trading tool us.
Larry Williams is a very good teacher on this subject.

"One Eye Jim"
"Silver" - and - "Market Trading Indicators" - some "Examples" listed below
True Strength Indicator = TSI
Stochastic = Stoch
Ultimate Oscillator = UO
Some numbers to use with many different "Markets and Indicators"
Monthly - Weekly - Daily - down to one Minute Charts
42 - 33 - 17 - and - 17 - 33 - 42
42 - 17 - 33 - and - 33 - 17 - 42
33 - 42 - 17 - and - 17 - 42 - 33
These numbers may or may not help with your trading decisions
Some "Examples" of other markets to checkout listed below
ASA = Mining Stocks -- "Founded 1958" -- start with "Monthly Chart"
XAU = Gold and Silver Index
HUI = Gold Bugs Index
DXY = U.S. Dollar Index
DJIA = Dow Jones Industrials -- Monthly Chart back to 1915 or longer if you can ?
F = Ford Motor Company -- Monthly Chart -- Just for "Education"
One of many good trading tools to use with decision making -- "Market Indicators"
My opinion the two best teachers in the "World" to learn from are
Larry Williams - and - Robert R. Prechter, Jr
This is for "Education Only" -- Information only -- 9-17-2018
"One Eye Jim"
Cincinnatuus jeffreyjim
@jeffreyjim, Thanks Jim, took a look at your examples. Silver does seem to be in a phase like ASA was in the 90's. We'll see if the resulting succeeding move is similar. Another reaction to these charts was that they are all in some form of multi-year cyclical corrective pattern, trading up and down from one extreme to another. Would seem the take away is Buy the Dips and Sell the Rips! Successful Trading!
"America -- U.S.A." -- I hope "You" are listening
"The fellow that can only see a week ahead is always the popular fellow, as he is looking the crowd.
The fellow that can see years ahead has a telescope but he can't make anybody believe what he sees,
because -- "They" -- can't see it"
"Will Rogers"
Many -- "DJIA" -- cycles are do to bottom in the year 2022" + or -
"One Eye Jim"
Cincinnatuus jeffreyjim
@jeffreyjim, Great comment Jim, I don't doubt we all have problems with credibility in practicing this gig..

If the PM's bottom with the DJIA cycle, it would likely be because of a deflationary credit market collapse. Very possible. We'll see.
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