There is a lot for the silver price to do. Overall, we expect the price to fall under $21.41, but the correction was slowed down by the bulls. As long as the price can stay below $24.94, the primary scenario is intact.
Let's see if the bears can pull the course back down!
As you can see in the previous silver analysis which has been tagged to this new analysis we forecast the 4H time frame bullish move and also we knew that we are in higher time frame bullish trend.
Now again price had a bearish corrective move in lower time frames and reached 0.61% Fibonacci ratio as well as important static support area, which gives us another...
In Weekly time frame price has formed a line formation, and currently siting on a support area. As a result of this important support area price structure in 4H time frame has shifted to bullish as you can see and price is creating a HH and HL.
Now price is above 4H timeframe 144 EMA and also price is in bearish corrective move for retesting a previous resistance...
Ever since the Lehman Brothers collapse prompted central banks to cut interest rates and implement round after round of “quantitative easing” commentators have been forecasting that gold will hit $5,000 an ounce and silver $100 an ounce.
Pointing to the high inflation that was experienced in the US in the 1970’s that caused gold and silver to skyrocket back...
Sl1! Nice bull flag at strong pivot resistance zone, an uptrend, since March 31 lows actively riding as support the 9ema (blue line). Entry could be a 1-hour candle close above the .618 fib extension with the 9ema as support crossing the 28 levels. Also, consider another 9ema backtest - ascending trendline confluent if you connect a trendline from the swing lows....
thing is with silver every one is predicting a nice bullish move, and i agree in august when buffet put some green paper into the asset we had a nice bull run.
but what the hell dudes some basic economy it's not about price but market cap. silver double in market cap this year from a bottom low close to 14 and an high at 30.
so no the silver won't make crazy 20...
NYSE:HL formind on 4H chart bullish pennant. You can notice rising volume in recent days after earnings.
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as we can see we have few resistance areas and a heavy zone before reaching our Fibonacci projection parallel leg levels and we have specified it as our TP areas
if the price continue its rally in the specified Chanel the Arrows so does the date for our TP occur ON time as we have specified them by Fibonacci time Zones
i believe this commodity is under valued so...
This could be an important moment in silver. I prefer that the metal stay cheap but I fear we are about to run out of time before this train leaves the station.
What do you think will happen to SILVER over the next year or two?
The Wisest option would be to hold - all the other options are too risky at the moment - but, based on Technical analysis there might be a possibility to go long as per major bullish trend only if the 23 USD support level will not be broken in the next two/three market days; vice versa, if the support will be broken, there might be an opportunity to go short
On the daily, it is clear that the 50% fib was tested and is currently ( hopefully ) rejected!
I expect a very large run in $SLV tomorrow as well as mining companies. Provided this bullish engulfing candle does not pull back VERY harshly, I think this is the continuation we have been looking to see.
Live long and profit.
Silver Futures dropped today as we all suspected it would. So what now? Is Silver having a difficult time getting to the next level on the fibonnaci scale? It went up there before in the grey area, but it flew too high too fast and after struggling to go any further, dropped back down. Silver has been making astronomical gains since its arrival and traders have...