perlboy
Long

Silver snaps back, are we going to rally to downtrend channel?

FX:XAGUSD   Silver / U.S. Dollar
Silver             has been smashed over the past few weeks. I foolishly opened a long @ 16.8, didn't set a stop then promptly fell asleep. I countered this with a 2x short @ 16.558 and rode it down closing at ~15.15 and therefore making back a fair bit of the loss I've been carrying on my initial long. I've now longed more from ~15.4 as we snapped back. I've always been long term bullish on Silver/Gold with physical stocks at all time lows the paper players seem determined to remove all hope. Nonetheless following the rapid ascension off an apparent low I'm expecting at least a retest of the downtrend channel that we've been caught in following the breakout above the much longer (multi year) downtrend channel . I've published this chart zoomed out but the 4 hour on more recent timeframes certainly seems to suggest we're looking at a bullish continuation to at least the upper channel line.
I think your spot on here. Silver so undervalued ATM IMO.
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out