It looks like silver is in the middle of the range. Should be prepared for dancing with the wave.
All the best in silver trading.
Comment:
Comment:
The daily candle looks so bullish, and will test the cloud (the resistance). The first tgt would be 17.2x. Expect to see on Wendesday.
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Comment:
After the target reached today, it got ema 300 rejected. It ended up with silver closing below ema 200. As the inauguration day gets closer, let's see how dollar would move and what impact could be on silver price.
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Comment:
Silver is testing this resistance zone before heading down.
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Comment:
Comment:
Got rejected by ema 300 again. Silver bulls are quite struggling here.
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Comment:
Silver has been going down for 3 days and nicely holds 16.6x as a support. Expect it would pull back up to ema 68 by Friday.
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Comment:
Silver broke ema 68 and closed right below ema 200. The bullish engulfing pattern is obvious.
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Comment:
Comment:
Comment:
Silver finally broke the resistance. Looks like silver support at around $17. Since the last week of December, silver has made a higher high and a higher low. Let's see how this trend would develop.
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Comment:
A doji day! The trend has been changed. Let's see how it goes tomorrow
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Comment:
As expected, silver retraced back to test the breakout level. Since Friday is coming, it might trigger a profit taking for long-position. The first support would be approx 17.3x and the second one should be approx 17.2x. $17 could be the final one under current circumstance.
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Comment:
It looks like silver uptrend hasn't done yet. The support zone 17.2x ~ 17.3x has been tested and held. Well done, Silver.
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Comment:
Silver bulls have done an amazing job since the beginning of this year. Today silver hit the old trend line. It looks like silver would do some kinda correction before US open. $17.5x (the daily ema 5) should be a support for now. So it would make a room for silver to move up during US session. The higher silver goes, the closer silver would reverse. Let's keep this in mind and open eyes widely. :)
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Comment:
Silver closed below the old trend line but almost got out of the October consolidation area. Could Silver make the final breakout? Let's see how US dollar behaves during Asia and Europe sessions. Good Luck!
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Comment:
Silver still tested the last October low level as a resistance for now. May see 17.5x again before US market opens.
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Comment:
A quick glance at the silver weekly chart: silver could take a short break to collect more energy before heading up to 18ish
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Comment:
Silver offered a Red candle at the end of the day. The candle pattern is bearish. Expect to see a consolidation on Friday. It might go 17.2x ~ 17.5x
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Comment:
Comment:
Comment:
Today's long green candle formed a bullish engulfing pattern. Expect silver would work on $18ish zone.
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Comment:
The pink trend line, as a support, has been tested and held nicely. But 17.9x was rejected twice. Silver may need a mini consolidation? Let's see :)
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Comment:
A bullish engulfing pattern has been printed on the daily
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Comment:
Comment:
Another green day for silver bulls. Yes, got in $18 territory. It looks like the uptrend hasn't done yet. But the resistance could be much solid. Let's see :)
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Comment:
Comment:
Silver is testing the last November resistance.
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Comment:
Silver is getting closer to the last November resistance level.
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Comment:
Comment:
Silver is still in the uptrend. Likely, it could re-test 18.1x on the downside. If it holds, could potentially go up to 18.6x ~ 18.9x area. Just a reminder, President Donald Trump will make his first major address to Congress on Feb 28th.
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Comment:
It would be very important if silver could break out 18.6x level. The weekly chart has been attached for your review.
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Comment:
A quick update on silver: keep an eye on long positions closely
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Comment:
An intraday update: this should be a start of a correction
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Comment:
Comment:
As expected, silver broke down to 16.919 as of March 9th. So keep an eye in the area 16.6x ~ 19.7x before the rate hike decision made.
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Comment:
As you can see, silver is hitting the resistance. From now on, the strength of US dollar would matter a lot. Let's see...
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Comment:
Silver reached $18 once again. US dollar looks weak after the second vote of health care bill withdrawn. DXY is below 99 (will update the DXY soon separately) Silver could go up to 18.2x ~ 18.3x before profit taking for the March month end. Happy trading!
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s3.amazonaws.com/tra...shots/b/BXlc7cIO.png
Comment:
Here is the daily chart for your review. It seems that silver would follow the plan toward the month end. Happy trading!
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Comment:
On Friday, silver began to turn down. If it doesn't hold around 17.7x ~ 17.8x, we could likely see 17.0x ~ 17.1x as long as US dollar isn't too weak.
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Comment:
Silver has had a correction. This week, would keep an eye on a breakout of 16.5x. It would lead to 17ish. Also prepared for a test of 16.2x.
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Comment:
silver should test 16.2x resistance early this week. if it breaks out, could go up to 16.9x ~ 17.1x. otherwise, it would be back down to lower $15.
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Comment:
it crossed over the resistance around 16.2x. need a patience to see it reaching 16.9x ~ 17.1x cuz indicators may reset on smaller time frames.
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Comment:
Keep an eye on here for a potential reversal. A crucial area should be 16.9x ~ 17.0x
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Comment:
Silver did a nice breakout. Now 16.9x ~ 17.0x becomes a support. Likely, could see silver going higher after a sideways or a minor correction. It would be great to see September high once again.
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Comment:
The trend line in red looks quite strong. Here seems another test for a support.
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Comment:
A quick update. Silver is still in the long term range.
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Comment:
Silver has been moving within the range in the main post.
Here is the updated monthly chart.
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Here is the updated monthly chart.
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Comment:
Would love to see silver testing 16.5s resistance before Jan 25.
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hope to see a H&S soon on the daily chart