Hi guys! 👋🏻
🔔 Silver continues its uptrend since September 30, 2021 when it hit the newly lows of the year. The uptrend is backed by the FED’s tapering plan which should start in November. Despite the positive US Jobless Claims, the US Dollar index remains under pressure below the 93.7 level.
🔔 The US Dollar index is still vulnerable below the 93.7 which is a...
The Green Neckline @$26.50 is the major resistance at the moment. Breaking it would signal huge upside potential. Depending on how long this consolidation is, if less than a 6 MONTH consolidation, the pattern most likely will be for $35.00 an ounce, $10 gains. if the consolidation is for more than 6 MONTHS, a long term Inverse head and shoulders will have...
I am watching silver on the 15-minute chart. Will it get rejected by the 200MA for the third time in the past six days? If so, expect a strong move downwards like the previous two times it's been rejected, pointing to a weaker silver price. Also, pay attention to MACD during the past two rejections, always quiet before the storm.
how safe is this spot to enter ?
is it likely to lose momentum and reverse or will it complete the run to the other zone.
to have profited one would have entered at the zone at the bottom and after the consolidation on the resistance line. 2 opportunities for a longterm trade. candle sizes remain consistent and healthy , next week continuation or not?????
Silver on the daily time frame is now at a resistance, with Stoch Rsi showing that the selling pressure is fading and Adx shows that the bearish trend is also fading (bearish line makes crossover downwards with the trend strength line).
This means that after selling Silver from 17.900 (which I published a week ago) it's now time to look for a buy entry.