🥇XAUXAG🥈 heading to strong resistance level. It's confluence of trendlines and 50% fib retracement of the initial impulse breaking the major uptrendline. I expect backtest of it and possible reversal which would be bullish for both metals.
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⚠️Disclaimer: I'm not financial...
I expect more downside in miners if perceived hawkishness from the fed is maintained. Soon though, they'll cave and sacrifice the dollar to do what they think will save the markets, which will lead to an explosion in precious metals. These miners will be the ultimate levered trade on the coming fed pivot so be ready to reverse to long.
I am flattered to have had a request for a chart. Special thank you to @RocketFuel20 🙂
My view of this chart is that the price action is somewhat inconclusive at the moment. That said, we CAN summarize a theme for which there is evidence to believe that this AG is NOT YET ready to buy:
How does the price behave?
Following a top, we observe from August 2014...
Please see picture for analysis.
-Price is reacting off of demand/support that's been holding for 2 years now.
-Still a very high demand for REAL physical silver.
-Waiting for confirmation.
Thoughts? if you like it don't forget to hit the like =)
"Decade of zero returns" for the stock market = Shortening Bear Market for Commodities
Price target = $50
Fractal backbone + Room in technicals for such move.
Price target was established in June 2021.
Time frame pushed up in anticipation of 2023 bear.
See picture for top-down analysis:
-Short Term Downward ML Break
-opposing zones removed
-People might think it's a great demand setup
which I agree but taking a look at the overall
price action over the last 7 days, you can see
price is making overall LL/LH by about .6%
-If someone bought at this demand then using a
structure SL is recommended.
-Low risk reward...
Took profits on my SOYB position for some nice gains considering a lot of downside in the equities market.
On a monthly time frame, SOYB is approaching resistance zone so I took profits and will be watching to see how price reacts here.
I'm expecting retracement / consolidation here before continuation to the upside or back down from profit takers and sellers...
Requested by @RocketFuel20
Not financial advice.
The essence of investing & trading is the intelligent and patient preying on the greed, fear, impatience, addiction and ignorance of the majority. It's definitionally Darwinian.
*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
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!! This chart analysis is for reference purposes only !!
If you want to...
First Majestic Silver might be signaling big silver crash in price and the next coming depression. Everyone who bought into inflationary assets are going to get hurt IMO. Don't go all in on inflationary assets it's best to diversify because things don't always go the way you think it will. May be at least not in the short term and that can hurt you and might force...
NYSE:AG MCX:SILVER1! AMEX:GDX TVC:GOLD
It takes zooming out at least 20 years to feel good about buying gold or silver, traditional inflation hedges.
It's been a boring asset class since the Federal Reserve began its most recent monetary experiment, but as we all know, the piper will get paid.
Regardless - silver (shown) and gold are hinting at cycle price...
$AG #silver Daily - Bearish Buying zone between $10.19 all the way down to $9.38 IMHO silver is not done correcting yet. Final blow is coming, range between $19-$21
