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Silverforecast

Why you should pay attention to Silver ?Silver has been hammered pretty badly during the sell-off in March and after the recent market correction. Nevertheless, the large timeframes tell a different story. When we zoom out, we can quickly notice the huge that silver has been putting since Dec-15 marked by the a lower low $11.639 in Mar-20 and then a solid bounce followed by a rally to $29.869 in August. This month the price has further corrected to $21.665 marking an oversold RSI up to the daily timeframe. Looking at the higher timeframes weekly and monthly, - taking the history since 2013 into account, we could see a large cup formation to which the current drop could be seen as the handle pattern being worked out, - taking only the recent drop into account, we could see a very interesting bull flag formation being worked out. In either cases, a breakout over $28 might send Silver back to .786 fib level with a price target over $41 before a longer consolidation takes place (if it follows gold's path). Silver is known as a lagger but it is also an aggressive mover since its cap is not as big as gold. I am definitely going to increase my exposure to Silver and silver mining stocks as well. Let me know you thoughts, like, follow and share to support my ideas. Until next time !
TVC:SILVERLong
by CryptoMargrave
Another 20% for the bears! 🐻 We updated our target for the correction in silver. Due to the breach of the $23 area, we have to expect further downward movement. The new target for a turnaround is between $19 and $15.50. A yellow box indicates the zone. This bigger correction leaves us with more potential to the upside after the current correction. We think that we are now ina major wave 2 in blue. This means that after completing the correction, a bull run to prices over $30 could start. Share your opinion in the comments! Happy Trading!
COMEX:SI1!Short
by MarketIntel
6
SILVER LONG POSITION/SILVER BUY SIGNAL Hi guys, We have solid position on silver. * MACD DAILY BULLISH * StochRSI DAILY BOTTOMED * My view is that silver will after this strong pierce and selloff make attempt towards previous highs, drop again and continue to push since underpriced. * Target on silver is 48$/OZ. Having on mind position of S&P 500, DAX. FTSE and the other indexes, situation on stock market seems very shaky. SPX is in front of WEEKLY BEARISH MACD CROSSOVER which will result collision of index as we could see in the chart Apart from SPX, DAX seems even more shaky and i would suggest clearing stock positions and opening longs on metals (prefferably silver), since HH of gold should not surpass 57.000$ which is 10% at best comparing with silver which provides 218% return on investment (118% profit). Money from stocks will move to precious metals and crypto section. Appliance of silver from fundamental side is used in industry since all the batteries, fast chargers and so on could not behave as good conductior as silver, because it doesn't have "skin" effect like copper and it can endure big amperage which will be used in electrical car chargers (since gold is to expecive now). Silver will be too, but still not Usual ratio Au:Ag=20:1 Now is 70:1 in favor of gold (since gold made brakeout first Once again, i find silver highly underpriced and will collision of stock exchange (WHICH IS IMMINENT) and certain as Tuesday after Monday, money will move into " store of value" Good luck to everyone and happy silver holding. Will pay off big time !!!
TVC:SILVERLong
by milanjelic
13
SILVER IDEA UPDATED 2.0So with the stock market selling off this has impacted the silver price, which has now dropped below $26.1/oz. The price will now head back down to major support, previous resistance of $21/oz (and change). I would expect a very significant bounce off of this level after an healthy consolidation. We would then see a similiar reaction to what we saw back in march, april, may when the FED inevitably steps in with further "stimulus" to combat the second wave. Then I see silver bouncing around off of resistance and support levels before inevitably attempting to hit $50/oz by 2024. This is not a target date, rather an indication that it took nearly three years for silver to bottom after 2011, therefore we should expect a similiar time frame to get back up there.
TVC:SILVERLong
by WinstonWolfe
3