Looks like a double-top on 4 hour SI chart. Price broke below 50EMA If price losses the upper trendline of the descending triangle expect price to push to bottom trendline of triangle at least. Will it tap the upper trendline all the way down until the break up?
Not perfect, but big shooting star on SI daily chart along with break below the 50EMA on the 4 hour chart makes me think Silver may pullback to major support from 24.00-24.60 before shooting back up. Could the star really be the 2nd top of a double-top? Time will tell. Holding steady for now.
I'm seeing that 4 of the last 6 times that this pattern has played out over the past 4 years, at the first major pullback the RSI continues to put in a higher low. Price then move higher.
This goes along with my ideas on Silver. Weekly DXY Head & Shoulders helping to push up metal prices.
I'm seeing a bullish RSI divergence coupled with a descending triangle on the 4H silver chart. I see a similar setup 5 times in the past year and each time the price went up. Am I seeing this correctly?
Hey traders, we have clear patterns, bullish movement expecting same as XAUUSD
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According to the given data, it seems that silver is currently positioned at the peak of a bearish channel and has encountered a decline trend line from October 2011. Moreover, it has already reacted to this trend line, and it is anticipated that it will undergo further decline. Similarly, gold miners are facing a comparable situation with a similar percentage...
Silver pulled back against the bullish trend. Price is trading in the ascending channel, and it made a higher high. We expect a breakout of the trendline and then a further bullish move to retest the resistance. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!
Based on weekly timeframe. What you think, comment below......
This is the play, silver goes to 36. on 6/3 perhaps. My date is labeled on the chart. Have a gander because i said on a previous chart (link in description SILVER CHART MINDSET), there is only 3 ways to look at silver. and to my surprise, silver suprised me. Not at the top, we are almost there, before it recurses to the .5 or more.
AB = CD Harmonic Pattern formation has been observed which indicates an increase in the Silver Price (USD). You can buy at 25.150 price point. Place a Stop Loss at 24.760. Take Profit 1 @ 1:1 risk/reward will be 25.509 and Take Profit 2 @ 1:2 risk/reward, will be 25.890.
Silver is one step away from reaching resistance on the MONTHLY, it has increased a lot, a lot, but it will soon reach the area where many will close their profits. There are many institutions that take profit in this area, so this area will become more and more difficult to hold and thus it will weaken a lot, in addition, RSI is super overbought and this shows...
Silver price has just pushed through critical juncture where both short-term ascending and long-term descending trend resistance lines have crossed. To say that this breaking through both of these is bullish for silver would be an understatement.
Warriors, Sharing an open analysis !! Whoever gives the best possible analysis on this, will definitely be patted and applauded by me personally !! Timeline for reply is by 12th April 12:00 hrs IST What say...?? Share your views. Luck - Knight Kumar
After a strong bullish impulse, Silver was accumulating for some time within an ascending triangle formation on 4H time frame. Its neckline was broken during the Asian session. We see its retest now. It looks to me that the market may bounce one more time. Next goal for buyers - 25.7 ❤️Please, support my work with like, thank you!❤️
Silver may outperform gold for the short term as SLV is screaming for attention. It just had a recent golden cross along with a by-signal measured by Aroon up. So don't miss out on this one at all! I'm also testing the same theory with other highly liquid ETFs as well for tomorrow's trading day.
Rounding Bottom has formed on Silver and the price has just broken strongly out of the resistance (neckline). The indicators are also showing good upside momentum. 7>21>200 RSI>50 Target 28.70