Targeting $20 for silver in the coming week.
Here are the key factors to keep in mind today for Silver trades: New Zealand Performance of Services Index: The New Zealand Performance of Services Index for August was reported at 54.6. Forex traders can compare this to the New Zealand Performance of Services Index for July which was reported at 54.8. UK Rightmove House Prices: UK Rightmove House Prices for...
The price above 200 MA, indicating a growing trend. The MACD histogram is below the zero lines. The oscillator Force Index is above the zero lines. If the level of resistance is broken, you should follow the recommendations below: • Timeframe: H4 • Recommendation: Long Position • Entry Level: Long Position 18.300 • Take Profit Level: 18.800 (500 pips) If the...
It appears that we are still in a massive bear channel and this was a bear market rally. Both TVC:GOLD and TVC:SILVER appear to be overbought. Silver is showing a massive weekly shooting star. Might see another leg up (within the channel)but then a decline to find another bottom. Looks like it got all the FOMOs out there. Unless we break out of this bear...
Hello Traders, There has been a lot of talk about the precious metals recently (Gold / Silver) with many different reasons for the resurgent interest in precious metals ranging from the classic "store of value" to "finite resource" to "growing lack of trust in fiat currencies". From a Fundamental Analysis point of view I don't really know anything about Silver...
Since forming the low on November 2018 at $13.9, Silver has rallied 40% to current price of $19.4. The move higher from $13.9 low took the form of a 5 waves impulsive Elliott Wave structure. On the 1 hour chart below, we can see wave (4) pullback ended at $16.92. The metal has since resumed higher in wave (5) with subdivision as another impulse in lesser degree....
Silver has a clear cup and handle formation present (and looking to be resolving) on the monthly chart. Given the price action in silver recently (check out my earlier analysis which predicted this most recent surge as well as the move up in gold in July) it is worth looking at the longer-term trajectory for silver to determine whether we should be selling,...
Silver hitting resistance here at the low volume node/.618 retrace and 1.618 extension of wave 1. Looking for a 4 wave retrace here, will buy the 3 wave correction and stop under the low. If we end up going deeper its possible this is more bullish as a 12 12, but we can let the action show us that. Its been a while since I have posted ill try to get some more...
Short Plan for Silver. We have had a big run-up and are approaching a key confluence of sell zones. Idea is to go short on the touch of sell zone marked in Dark blue on 4h inside a bigger sell zone red from weekly.
Short Term Elliott Wave structure from the chart below suggests the rally in Silver to $17.5 ended wave (3). The metal then pullback in wave (4) to 16.91 with internal structure as a triangle. Triangle is labelled as ABCDE with subdivision of each leg in 3 waves. Triangle is therefore a 3-3-3-3-3 structure. In this case, wave A ended at 16.5, wave B ended at...
The price above 200 MA, indicating a growing trend. The MACD histogram is above the zero lines. The oscillator Force Index is above the zero lines. If the level of resistance is broken, you should follow the recommendations below: • Timeframe: H4 • Recommendation: Long Position • Entry Level: Long Position 17.800 • Take Profit Level: 18.150 (350 pips) If the...
Trend line from 2016 is well in tact and looks like this is the beginning of a significant upcycle. PM’s have always had an inverse relationship with equities and I watch the news closely to determine price targets. Trade war with China won’t have news until near end of August. I believe silver (and gold) will continue to rise until any news of resolution. No...
Commodity and Fixed Income Series : Part 1 Commodities ( Ratios+the most popular and widely traded Commodities ) The Essential note s from this chart are the following( Indicator analysis included in the comments ): {4.5 minute read} To begin with the easiest part of the chart. The supports were identified on the quarterly chart which will be linked in the...
Quick summary of how i usually view the markets. In terms of market movement, i tend to view them as either Ranging or Trending market environments. - Trending environment means that price has a general direction it is heading based on High Time Frames market structures. BULLISH Market structure refers to higher highs and higher lows, while BEARISH Market...
Thanks for viewing everyone. This is typical TA, it might go up or it might go down (and I told you so in either case). But stick around anyway. After silver's top of almost $50 in 2011 it has made a clearly identifiable ABC formation correction of the intervening 8 years. If you squint just right, you can see the 5 wave wave (C) down too (complete with shallow...
Silver rally from May 28, 2019 low is unfolding as an impulse Elliott wave structure favoring more upside to take place. The near-term pullback to $14.87 low ended wave ((ii)). Up from there, the metal made a strong rally to the upside and ended wave ((iii)) at $16.58 high. The internals of that rally unfolded in lesser degree 5 waves structure where wave (i)...