Silver is falling into Support Area, Two Scenarios:
Break the descending trend line, stand over it: Reverse
Being pressed by descending trend line, breakdown the support line, and keep falling.
For the current signals, 1st scenario has higher probability, let me say, 70%.
9 Seasons Rainbow Multiple Time Frames Pattern PRO
Silver might be making a long term low the coming weeks. Retesting that solid bottom formation from the past half year, that double bottom shape. So now it becomes important to see another test of the 15/14.8 zone. Ideally in the shape of small double bottom as well. If that happens, chances are big to see a big rally the coming months.
View On Silver AUD/USD (19 Apr 2019)
Back Ground: Silver is trying hard to survive from the bear onslaught. There shall be some weak bullishness in making at the same time. 15.15 will be great.
Target(s): UP 15.15
SHTF: 14.4 should act as a decent support.
DYODD, all the best and read the disclaimer too.
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Silver is at the end of corrective wave by hitting a support level @ 14.80. Expectations in the next 2-2.5 months is to reach price levels over 16.50-16.80 area. Targeting another test of the uptrend channel . By Elliot waves method in the next 2 weeks we can see the establishment of the new trend. Risk reward ratio is also high and stop are just under the support zone .
Short term Elliott Wave view on Silver (XAGUSD) suggests that the decline from February 21, 2019 ($16.21) is incomplete. Structure of the decline from $16.21 is unfolding as a zigzag Elliott Wave structure. Wave B of this zigzag structure ended at $15.63. Wave C lower has started and should subdivide in 5 waves. Down from $15.63, wave ((i)) ended at $14.88 and...
here it's where Silver is in respect of its position prior to the 2008 Financial Crisis.
Please watch the RSI and note the shift in sentiment that has been persistent since 2014. Silver has been in Low Sentiment for the last 5 years.
Sentiment was runnung high before the 2008 Financial Crisis but fear drove money out of other markets into safe havens...
Silver has formed a bearish pin bar setup. There is a bit to be desired in this setup, but I think it does set up an opportunity for price to break lower and retest the 14.80 region. In regards to the pin bar, the real body is sitting a little bit high with a little too much bottom wick. I think it weakens the pattern a bit, but it is a fake out none the less...
Hello traders, we got nice 1h impulse up, it can be a reversal impulse, that's why I'm posting this idea! Upside is not confirmed yet. Don't jump into the buy now, you have to wait for correction. The bigger picture also looks upside, so this can be a really nice long term trade, but if you want trade silver long term we have to see bigger correction! I will post...
Silver broke below March 7 low ($14.96) and shows a sequence of lower low from Feb 21 high ($16.2), suggesting further downside is likely in the shorter cycle. The decline from Feb 21 looks is unfolding as a zigzag Elliott Wave structure. Down from $16.2, wave (A) ended at $14.96 and wave (B) bounce ended at $15.64. Internal of wave (B) subdivided as a double...
An over 78% retracement from the highs of 2011 stopping right at the fib level. Entering into a long term cup and handle formation in this 8 year bear market in the metal. Very bullish in the years to come.
The price dropped below the cloud and broke the uptrend line. From this moment we should consider the market as a bearish one. If the price bounces from Tenkan and Kijun lines and breaks the local support at 15.00 level, a new downtrend will be confirmed. The market will be able to reach 14.00 level which acts as a strong support zone now.
DMI is bearish with...
UPDATE-At the moment only two positions are active for gold(Running in huge profits)
STIll valid previous comments(Next report will be published soon)
Gold prices have broken below the levels on which it was hanging around from days. we have seen prices to plunge below $1284 per ounce however prices have moved up from daily lows in late action. At the time of...
*Disclaimer - This analysis alone DOES NOT warrant a buy or sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk management approach.
The sharing of this idea is neither necessarily indicative of nor a guarantee of future performance or success.
Real yields are the main driver of precious metals. Currently, the Fed is transitioning to a dovish stance while inflation is expected to remain above 2% over the coming 6 months, this is extremely positive for Gold.
double bottom supporting at $14.
2nd bottom forming in divergence with RSI oversold.
230SMA stopping the pull back and pushing down as in 2016.
IMHO a cross of the 230SMA with price breaking and consolidating above $16 may trigger a run towards $20 (1000SMA) with 1st TP at $18.
Otherwise, IMHO, if support at $14 is breached, Silver will probably keep...