Silver has nested Bullish structures and long term support.
The flagpole and falling wedge formation is very visible on Silver and many of the silver tickers have many posts about this formation and so I think we will see a lot of people playing that technically. I believe there is a strong case for the development of an acceding triangle developing within the falling wedge, which we have just began to trade out off.
Acceding triangles are easy to see, but often are not the greatest of performers and the often get thrown back or bust. My linked silver post shows an acceding triangle that performed beautifully and then immediately dumped into the grave. Given the totality of what is going on with silver, negative interest rates, the falling dollar, I don't see Silver not performing to the upside in a sustained manner month over month. But these short term formation can still perform and proceed downward or bust outright. Things never go straight up and so the first place I would expect consolidation/retracement on the way up would be just shy of $19.
The chart to the right shows we have found support high on the EMA ribbon. There was an attempted break through in July/August of 2016 and that was not sustained but as we currently have nested bullish structures and a flag pole I have a high degree of confidence that we will reach most of the way to our $22 target. My other posts have detailed how the 1M and 3M bollinger bands are going to provide a lot of technical resistance on the way to the full flagpole target. But the flagpole target is over 20% away and paper traders should be quite happy with those gains. Silver investors should think about buying before the break out because these levels may, after a year or so, literally never be seen ever again.
Due to the very high possibility of continued negative interest rates around the world and soon within the United States I do not suspect we are in a situation shown by the shaded "X." Instead I think we are going to see a repeat of the Black and Green Arrows, only much faster. The first unsustained break of the EMA ribbon was in '97, and the second break which predicted the parabolic move was in '03. The fakeout to this current break are only three years apart, and I believe that due to the increase intervention in the market by the various central banks, on multiple levels, will see a multi-year parabolic move rather quickly.
My linked post will be showing how I will be using the bollinger band to take profits on the way up, and future posts may show how I am using the gold and silver ratio to try and chase whatever is moving faster after I take profits. All the usual disclaimers apply, as I am not a certified market technician nor a financial advisor.
Acceding triangles are easy to see, but often are not the greatest of performers and the often get thrown back or bust. My linked silver post shows an acceding triangle that performed beautifully and then immediately dumped into the grave. Given the totality of what is going on with silver, negative interest rates, the falling dollar, I don't see Silver not performing to the upside in a sustained manner month over month. But these short term formation can still perform and proceed downward or bust outright. Things never go straight up and so the first place I would expect consolidation/retracement on the way up would be just shy of $19.
The chart to the right shows we have found support high on the EMA ribbon. There was an attempted break through in July/August of 2016 and that was not sustained but as we currently have nested bullish structures and a flag pole I have a high degree of confidence that we will reach most of the way to our $22 target. My other posts have detailed how the 1M and 3M bollinger bands are going to provide a lot of technical resistance on the way to the full flagpole target. But the flagpole target is over 20% away and paper traders should be quite happy with those gains. Silver investors should think about buying before the break out because these levels may, after a year or so, literally never be seen ever again.
Due to the very high possibility of continued negative interest rates around the world and soon within the United States I do not suspect we are in a situation shown by the shaded "X." Instead I think we are going to see a repeat of the Black and Green Arrows, only much faster. The first unsustained break of the EMA ribbon was in '97, and the second break which predicted the parabolic move was in '03. The fakeout to this current break are only three years apart, and I believe that due to the increase intervention in the market by the various central banks, on multiple levels, will see a multi-year parabolic move rather quickly.
My linked post will be showing how I will be using the bollinger band to take profits on the way up, and future posts may show how I am using the gold and silver ratio to try and chase whatever is moving faster after I take profits. All the usual disclaimers apply, as I am not a certified market technician nor a financial advisor.
And I promise every Floridian that you will all be rich... because we're gonna print some more money! Why didn't anybody ever think of this before?
~Nathan Explosion
~Nathan Explosion
