It doesn't matter what short term paper contracts do, or taking profits - the East is importing gold and silver at a beguiling rate that won't allow for much shenanigans for the metals market. I was however surprised to see the price bounce exactly off the top of the box. I see silver going down to $24 area, shake out some hands, and rocket up past $30 after...
This has broken out of two downward trends and Powell is about to be dovish with the dollar and let inflation rip again for Biden to get reelected. I see a VERY ATTRACTIVE options play right now - Endeavor's May Call contract at $2.50 is .20 right now and the O/I is off the charts. $5 is .05 or $5 a call. If silver blasts off like I think then these guys could...
A 70% chance that silver provides a retracement next week, as the attacks on Israel by Iran are not coming out - and the West is getting desperate (I smell a false flag if Iran doesn't bite). Asia (ChIndia - China & India) are hodling silver and gold and will provide the impetus for the forward price of precious metals. TTM squeezes normally see price bounce off...
Please 1st of all click the boost 🚀 button if you want me to post more ideas and follow me to support my work! It's absolutely for free. This is follow-up to the idea I posted 3 months ago when I called falling wedge breakout to the upside. XAGUSD is doing really well since and now is heading into strong resistance cluster created by zone 24.15-24.40 and by...
If you have been anticipating a resumption in the October rally, this may be the trigger. The SMH/SOX is the (I believe) the last of the major indicies to still have a gap left unfilled. If it closes today (or this week), then maybe we can get going to the upside. Some resource stocks have already started their ascent (GDX, SILJ, UUUU, UEC, NXE, etc.)
Silver and SILJ chart on the 3Day time frame. Silver looks to maybe have one more pullback or it'll start breaking above trendline. None of this should be interpreted as financial advice, I am not a professional or certified financial adviser! all charts, and or analysis' are my personal opinions and observations only!
Gold and Silver could move dramatically higher after the US Fed comments and the shift in how capital seeks safety. Precious metals have been consolidating downward for months. Now, it appears the Feds comments have shifted how traders/investors view precious metals. It is very likely this shift may prompt a very big upside price move. As traders suddenly...
The price rebounded strongly on the multi-year resistance. We also note a bullish positive divergence on the RSI.
First Majestic silver along with the rest of the mining stocks have been pummeled the last few weeks.. or months..er I mean years. It is my strong opinion that a rare opportunity has opened up in many of these stocks - historical. These monthly candles really help depict the birds eye view necessary to spot the larger patterns and trend. AG has been forming a...
Many traders believe the current setup in Gold/Silver is similar to 2018 or 2015. But the reality is this is more similar to 1999~2003 with a strong US Dollar and weakening global currencies. As long as Gold/Silver continue to strengthen while the US Dollar stays strong, foreign currencies will weaken and wreak havoc on foreign markets. Eventually, the risk...
I can't say that I've called a top using trendlines atop of a bullish trend, but I've seen a few others do it. With the rise in the dollar bringing mass bearishness to rest of the investment complex, a pause could bring some welcome relief. Anyway, I thought the timing might be relevant as important lower levels approach in $CL, $UX, and some metals, as well being...
This is a weekly chart of AG, First Majestic Silver Corp. I like to call this pattern a giant compression wedge - it's just a simple descending triangle. But considering this is on the weekly timeframe, it's a mammoth-sized wedge. I like the pattern but I really like the company. I'll try to focus on the technical analysis, but First Majestic looks incredibly...
On high timeframes, we seem to be continuing the trend of forming lower highs. The rejection of price at $15.49 gives me the setup I was looking for to think $SILJ is going lower. On top of the rejection, the RSI is overbought, the moving averages on ichi are stretched with price above the moving averages giving me reason to believe price will snap back lower,...
If you make a ratio of Gold Juniors to Gold Majors, you will find that there is an arc in the making since 2010. It looks like we are about to enter the fun side of the arc, where juniors outperform majors. This is historically often a sign of liquidity and luster returning to gold, in the form of rising gold prices, and risk securities outperforming. Got Juniors?
Gold and Silver mining equities remain very cheap relative to gold. Using historical prices and disregarding dilution, the upside of miners to current gold prices is GDX: 96% SILJ: 132% GDXJ: 260%
If PAAS can break and close the $26.84 resistance on the 4hr and daily candles, we can expect a rise to $28.11 (first target) and then $29.19 (second target). - HH
Once the resistance is broken, sky is the limited. Not financial advice.
We have a bit different situation in Silver. The flagging formations on the monthly chart failed more compared to Gold. In fact, in 2012 there was a clear depreciation in this market – flagging formation that broke to the downside; tight consolidation followed by the final breakdown. Certainly, it is too early to jump into this market, but in the case, we see a...