It's a legitimate question actually. I got no clue how to detect a pullback with silver. In precious metals, the price can be overbought and parabolic longer than anyone's expectations. Traditional indicators and price action readings tends to be useless. You have to know the overall demand of gold and silver and why people are buying into it. All I know is that...
Silver is finally catching up to gold. It seems that the monthly pullback was on July 30-31... near the 1st of every month. The issue is that silver is how at a key resistance level. Why didn't I enter into silver yet? It's because of the dollar strength. If the DXY has a confirmed double bottom pattern, we might see a bounce in the dollar... and a possible...
Silver at the 4 hour view. Silver made a pullback from its recent exhaustive move. With the dollar collapsing, silver is merely consolidating for another move up. That said, silver takes a long time for it to make moves like the last 2 weeks. Usually, silver goes through a monthly pullback near the 1st of the month. The question is, did this pullback already...
Silver : _ after a long time the square began to correlate again with the price of "gold, and to rise and climb positions we see clearly how the trend comes out and breaks the box in which it was to quickly climb to the next level.
Well, it looks like I was wrong about silver. I heard some of my trading team members that the next meaningful resistance is just above $26. What I didn't expect was the dollar strength tanking harder than my faith in humanity. I was expecting the dollar to bounce off its 9 year uptrend support. The dollar broke through that after being saved by it for 9 years....
If silver can get above 22.85 we may have continued lift off.
Silver futures at the 4 hour view. Silver got a huge boost due to the dollar strength being destroyed. That said, the SLV ETF climbed from the top 200s to the top 16 in most traded ETFs by Robinhood. The typical Robinhooder is a new trader and/or a momentum chaser. When ever you see momentum chasers going for a commodity or a sector, that's how you know the fun...
The silver/gold ratio was at all time low, or at least lowest in 350 years, maybe in entire history. Here is what happened with Bitcoin: Maybe the price will hesitate a bit in this area before spiking up So easy making money chasing pumps and riding them short term while they rocket in a single direction Silver assets are all going up Here...
Silver (XAGUSD) recently formed a Golden Cross on the 1W chart (when the MA50 crosses above the MA200), having fully recovered from the coronavirus collapse. This is a very encouraging sign for long-term investors as a similar pattern was formed in the early 2000s right before Silver's big expansion. This means that we are either in front of the greatest buy...
Platinum is breaking out of a 5-6 week bull flag after tagging its 50 day moving average and reversing from major structure. Precious metals seem to be breaking out in general, but I particularly like the pattern in platinum. I am long all three (gold, silver and platinum).
After trending mostly below $18/oz for nearly two months silver has recently broken above that resistance level and is currently testing $18/oz as support. If price can manage to hold above $18/oz and see a continued push higher then $19 will be the next level to watch for resistance. Should price fall back within the $17-$18/oz range then $17 will be the main...
The corrective structure of double three WXY has been completed and we got the first impulse up. It should be retraced in wave 2 and then the rally will resume. Target area is in the blue box in the 18.80-19.30 range.
The earlier idea could be completed as structure gets more complex with possible double three WXY to emerge. The drop into blue box should occur then to make a wave X retracement. Then the metal could hit 22.50 when another zigzag up in wave Y unfolds.
The wave (4) has been completed as per the plan (see related). The wave (5) could be extended and of the same size as wave (3) and it can hit the all-time high and even higher level of 1965.