I find it quite risky to buy precious metals right now, but silver is currently testing a support that gave way to a technical bounce at the beginning of the year (see related idea below). All I can say at this point is that silver may hold better than gold, which suggests that buying it may provide a hedge for anyone who is already short on in the gold market. At...
With the possible trend lines for gold (GC1!), it looks like we saw a fake break out of that range today, culminating in a doji candle. This on its own is not a good enough buy signal - granted, but if we overlay the price of silver (SI1!), we see that silver has shown a high correlation with gold but with higher peaks and troughs.
With gold now at a point which...
Silver is, at times, violently volatile and noticeably a proxy for the US dollar. With the dollar at levels not seen since 2005 and 2006, sentiment for precious metals remain weak. There are two factors for this, and it does not matter which one chooses.
The dollar has been able to hold current levels via the perception that the Federal Reserve will - at some...
The platinum/silver ratio indicates right now that silver will likely be the best precious metal to buy at the start of 2015 if all metals start rallying like in January 2014. Please see my previous ideas on silver and on the silver/gold ratio to see why this metal in particular has caught my eye lately. If you're bullish on precious metals right now, give...
***Please note that this chart is of the Silver/Gold ratio, not the Gold/Silver ratio as is indicated on the chart. Apologies for any confusion.
The Silver/Gold ratio hit a very familiar zone that is worth taking a note of before the start of 2015. While gold is still above this year's opening price (it did briefly fall below in November), silver has gotten...
Saw "Technician"'s silver chart and inspired me to take a look. What I am interested in was the bottoming and rebound in 1982, and if history can repeat, how we can ride it and reap it in the near future. Interesting time.
Silver has some extreme bearishness built up behind it. I am bullish long-term, but we are very likely to see a $14-hand on the metal. The nearest support is found at $14.62, while resistance can be seen at $15.60 (broken support).
There are some growth worries out of China, which could give short-term support. However, there is endless central bank intervention...
Silver, like gold, is forming a significant bottom as its weekly and daily RSI, Stochastics and MACD have all either turned higher or are completing their bottoming stage. Significantly, silver has been trading within a price range that previously saw consolidation activity in the summer months of 2010 before silver skyrocketed to near 50. I`m not suggesting...
Make or break? I wish I knew. The last 3 years is almost always break, I think.
Fact is that is so easy for sellers here, that if the line breaks there are going for targets lower derived from both triangles. Easy is sometimes suspicious.
This weeks down candle volume is 1/4, up to this morning, of the volume of last week's doji. Posted current contract days...
